Tasty Restaurant Group, a wholly-owned affiliate of Los Angeles-based private equity firm Triton Pacific, announced that its affiliate, Tasty Hut, completed the acquisition of 37 franchised Pizza Hut restaurants.
The acquisition builds upon Tasty Hut’s current Pizza Hut portfolio, and includes thirty-four (34) locations in Northern Virginia and three (3) locations in West Virginia. Tasty Restaurant Group will manage the portfolio and oversee its daily operations.
“We are thrilled to expand our Pizza Hut portfolio and increase our market share within the region. The addition of these locations will enhance our existing portfolio in Virginia and West Virginia, and improve operational economies of scale,” says Craig Faggen, Triton Pacific’s CEO. “Quick service restaurants continue to perform well and have adapted to new safety and operational procedures. Pizza Hut was the first national chain to introduce contactless curbside pickup, and we are pleased to be part of an organization that puts the interests of its team members, customers and the communities it serves first.”
Tasty Restaurant Group’s portfolio includes 153 Pizza Hut restaurants and 63 Burger King restaurants in 10 states. This acquisition builds upon its relationship with Yum! Brands, which controls the Pizza Hut, KFC, Taco Bell and Habit Burger Grill brands.