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ADF becomes No. 2 Pizza Hut owner in U.S.

Dec. 5, 2006 at 3:26 PM

ANN ARBOR, Mich., Dec. 5 (UPI) -- The ADF Companies have bought 165 Pizza Hut restaurants in the United States for a total of about $115 million.

With these acquisitions, the ADF Companies are the second-largest Pizza Hut franchisee in the United States, company officials said in a news release Tuesday.

Ares Capital Corporation provided the senior debt and a line of credit.

Spirit Finance Corporation provided initial bridge financing and certain other financing. Capital Growth Advisors LLC, which is based in Ann Arbor, Mich., provided financial advisory services.

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