Los Angeles-based Tasty Restaurant Group has acquired 37 franchised Pizza Hut locations in Northern Virginia and West Virginia, the company said Friday.
Terms of the deal were not disclosed. The acquisition builds on the group’s portfolio, which includes 153 Pizza Hut units along with 63 Burger King restaurants in 10 states. Tasty Restaurant Group is an affiliate of the LA-based private-equity firm Triton Pacific and the recent acquisition was completed by the group’s affiliate Tasty Hut.
“We are thrilled to expand our Pizza Hut portfolio and increase our market share within the region,” Craig Faggen, Triton Pacific’s CEO, said in a statement. “The addition of these locations will enhance our existing portfolio in Virginia and West Virginia, and improve operational economies of scale.”
Faggen noted that quick-service restaurants have adapted to the pandemic and perform well. “Pizza Hut was the first national chain to introduce contactless curbside pickup, and we are pleased to be a part of an organization that puts the interests of its team members, customers and the community it serves first,” he said.
Tasty in August acquired five Burger King locations in Iowa for $1, which at the time brought the group’s count for that quick-service brand to 72. It’s not clear what happened with nine of those locations, given the current count of 63, and Triton did not immediately respond to requests for comment.
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