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.