-->

Leawood-based NPC International makes plans to sell Pizza Hut, Wendy’s assets to restaurant group

Four months after its bankruptcy filing in July 2020, NPC International says it has formed an asset purchase agreement with Flynn Restaurant Group. The franchisee giant plans to acquire around 1,300 Pizza Hut and Wendy’s locations from NPC in a deal worth $816 million.

NPC International, Inc. said it has entered into a stalking horse asset purchase agreement with Flynn Restaurant Group for its Pizza Hut and Wendy’s locations along with other assets.

The largest franchisee in the U.S., Flynn has agreed to acquire substantially all of NPC’s assets in a sale process under Section 363 of the U.S. Bankruptcy Code. The agreement is subject to Court approval and any higher or better offers pursuant to the bidding procedures and deadlines previously approved by the Court.

Now just over four months since NPC’s bankruptcy filing in July 2020, Flynn would acquire all of NPC’s more than 1,300 Pizza Hut and Wendy’s restaurants across the country, as well as NPC’s Shared Services assets for $816 million.

Flynn has committed to offer employment to substantially all of NPC’s more than 30,000 full and part time employees.

Headquartered in San Francisco, Flynn operates over 1,200 Applebee’s, Taco Bell, Panera and Arby’s restaurants across the country.