OVERLAND PARK, Kan.–(hospitalitybusinessnews.com)–NPC International, Inc. announced today that it has completed the acquisition of 39 Wendy’s restaurants in the Raleigh-Durham metropolitan area, including four restaurants that were recently constructed by Wendy’s for $35.6 million, plus amounts for working capital. As part of the transaction, NPC plans to remodel certain acquired and existing restaurants in Wendy’s new Image Activation format.
This acquisition was completed with a subsidiary of The Wendy’s Company and is part of the Wendy’s System Optimization initiative to reduce company-operated restaurant ownership to approximately five percent of the total system. This acquisition was funded with available cash on hand. The restaurants will be operated by NPC’s wholly-owned subsidiary, NPC Quality Burgers, Inc.
NPC International, Inc. is the world’s largest Pizza Hut franchisee and currently operates 1,232 Pizza Hut restaurants and delivery units in 28 states and 184 Wendy’s units in 5 states.