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Article: NPC International, Inc. Announces Intent to Acquire 99 Pizza Hut Units From Pizza Hut, Inc.; Acquisition Represents a 15% Increase in NPC Operated Pizza Hut Units.
- Article from:
- Business Wire
- Article date:
- January 7, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PITTSBURG, Kan.--(BUSINESS WIRE)--Jan. 7, 1999--Consistent with NPC International, Inc.'s (Nasdaq:NPCI) goal to continue its growth in Tricon's Pizza Hut system, the Company announced today that it had signed a letter of intent with Pizza Hut, Inc. (PHI) to acquire 99 Pizza Hut units located in and around Pensacola, Fla. (14); Panama City, Fla. (16); Mobile, Ala. (26); Augusta, Ga. (22); and Savannah, Ga. (21). The 60 restaurants and 39 delivery/carryout units generated nearly $58 million in sales during the 52 weeks ended November, 1998.
NPC expects this transaction to close by mid February. Consummation of the transaction is subject to negotiation of a ...
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