NPC International Inc. is acquiring 53 Wendy’s restaurants for $31.3 million, plus amounts for working capital.
The buyer is purchasing the restaurants from a subsidiary of the Wendy’s Co. (Nasdaq: WEN). NPC also plans to grab an additional restaurant that is still being developed.
The restaurants, which are all located in the Salt Lake City area, will be operated by NPC subsidiary, NPC Quality Burgers Inc.
NPC is a Pizza Hut franchisee and operates 1,252 Pizza Hut restaurants and 90 Wendy’s restaurants, after this deal closes. There are more than 6,500 Wendy's restaurants worldwide.