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Industry: Email Alert RSS FeedPizza Hut franchisee closes sale-leaseback deals totaling $15.3m
Nation's Restaurant News, Jan 14, 2008
WAUWATOSA, WIS. -- PH Hospitality Group LLC, the largest Pizza Hut franchisee in Wisconsin, completed late last year sale-leaseback transactions covering 20 Pizza Hut units and totaling $15.3 million with Sovereign Investment Co.
PH Hospitality, which operates about 85 Pizza Hut restaurants, will lease the sold assets back for a period ranging from 10 to 15 years, the companies said in a statement.
"Given the current economic environment of uncertain credit markets, sale-leaseback is becoming the financing of choice for owners and operators looking for capital to grow and restructure their existing balance sheet," said Barry Bain, vice president of acquisition at Sovereign.
COPYRIGHT 2008 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2008 Gale, Cengage Learning
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