A Connecticut-based group has bought 26 Acadiana-based Pizza Hut locations from local franchisee Brent Stolzenthaler as part of a deal involving 125 restaurants.
Adam Diamond and David Tetens, who recently formed ADT Pizza, bought the locations on Oct. 29 after Stolzenthaler sold the properties and wanted to retire, Diamond said Thursday.
Stolzenthaler was the franchisee for just over 20 years for all the Acadiana locations, which have about 500 employees. The agreement also includes locations in west Texas, Columbus, Ohio, and Charlotte, N.C.
“Twenty years is a long time,” Stolzenthaler said. “It’s just time to start relaxing a little bit, start a new phase of life and relaxing. It’s bittersweet. The people were great. I really enjoyed the business.”
Diamond, who has an MBA from Harvard, spent many years in the hospitality industry as an executive with Starwood Hotels. It’s the first purchase for the new group.
“We really like what Pizza Hut is doing,” said Diamond, whose office is in Westport, Connecticut. “Pizza Hut is an iconic brand. The QSR (quick serve restaurant) industry is innovating. It’s changing what it does to match customer demands and desires.”