A lot of pizza changed hands over the weekend, with NPC International, the largest franchisee of Pizza Hut restaurants, saying late Friday that it will buy 39 outlets from fast-food company
for $29.5 million.
NPC also said it has agreed to sell or lease up to 89 Pizza Hut operations to
for $59 million, subject to the satisfactory completion of due diligence.
NPC's deal with Yum is expected to close in early October. The Realty Income agreement should be completed next month. Realty Income said it plans to acquire an additional 11-unit Pizza Hut property portfolio sometime after the deal closes.
The restaurants being bought by NPC are located primarily in and around Nashville, Tenn.
Yum's shares edged higher by 16 cents to $47.68 Monday on the
New York Stock Exchange