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LOS ANGELES—Locally-based private equity firm Triton Pacific has closed on the acquisition of 117 Pizza Hut restaurants via one of its affiliated companies. The properties traded for $80 million. The acquisition includes 114 operating restaurants and three that are currently under development. The Pizza Hut restaurants are located throughout the states of Illinois, Kentucky, North Carolina, South Carolina, Tennessee, Virginia and West Virginia.

“This is a significant acquisition that expands and diversifies Triton Pacific’s quick service restaurant holdings both geographically and by brand,” said Triton Pacific CEO Craig Faggen in prepared remarks. Triton Pacific had previously entered the QSR space with a platform acquisition of 64 Burger King locations in 2018, Faggen continued, and also said that this Pizza Hut acquisition complements its existing portfolio “while providing the opportunity for continued expansion as we establish stronger ties with major brands throughout the industry.”

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Erika Morphy

Erika Morphy has been writing about commercial real estate at for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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