NPC International Inc. said Thursday it agreed to buy 100 Pizza Hut restaurants and carry-out sites in 11 states, including five in Utah, from franchisee Jamie B. Coulter for $57 million.
NPC, a restaurant franchisee based in Pittsburg, Kan., has acquired 328 Pizza Hut units in the past 24 months. Assuming completion of the latest deal next month, the company will operate 696 Pizza Hut restaurants.Pizza Hut is a unit of PepsiCo Inc. based in Purchase, N.Y.
NPC said the 82 restaurants and 18 carry-out sites have annual sales of $59.7 million.
The sale includes 25 establishments in Oregon, 18 in North Carolina, 13 in Delaware, 10 in Illinois, nine in Tennessee, seven in Colorado, five each in Nevada and in Utah, four in Washington, three in Texas and one in Arizona.
Coulter, a Pizza Hut franchisee for 32 years, said he sold the restaurants for "personal reasons."
NPC, which also operates and franchises 180 Tony Roma's restaurants, agreed to buy 52 restaurants from Pizza Hut Inc. in North Dakota, South Dakota and Minnesota for $33 million.