XML 33 R21.htm IDEA: XBRL DOCUMENT v3.6.0.2
Subsequent Event
12 Months Ended
Dec. 27, 2016
Subsequent Events [Abstract]  
Subsequent Event
Subsequent Events
On January 20, 2017, NPC closed on an Asset Sale Agreement with a Pizza Hut franchisee and sold 72 Pizza Hut units primarily located in the Birmingham, Alabama area, for approximately $23.5 million.
Additionally, on March 6, 2017, the Company entered into an Asset Purchase Agreement with a Wendy’s franchisee, to acquire 62 Wendy’s restaurants for $52.6 million, plus amounts for working capital. NPC also agreed to acquire six fee-owned property locations for $3.6 million. This acquisition is expected to be funded primarily with available cash on hand and borrowings on the Company’s $110.0 million Revolving Facility. The Company currently expects the closing of the acquisition to occur in late April 2017, subject to customary conditions and approvals.