Shearman & Sterling is advising NPC International Inc. in the sale of its parent, NPC Acquisition Holdings, LLC, and all of its parent’s equity holders to Olympus Partners. The amount of the sale was not disclosed.

NPCI is the largest Pizza Hut franchisee, the largest franchisee of any restaurant concept in the United States and the eighth largest restaurant unit operator in the United States. NPCI operated 1,153 Pizza Hut restaurants and delivery kitchens in 28 states.

NPCI is a portfolio company of Merrill Lynch Global Private Equity, the legacy private equity division of Bank of America Merrill Lynch. This portfolio company investment is managed by North Cove Partners LLC, an independent private equity firm that was recently spun-off from Bank of America.

Olympus Partners, headquartered in Stamford, Connecticut, manages over $3.1 billion on behalf of corporate pension plans, public retirement systems, university endowment funds, and the executives of Olympus portfolio companies.

Shearman & Sterling’s team included partners John A. Marzulli Jr. (New York-Mergers & Acquisitions), Robert M. Katz (New York-Mergers & Acquisitions), Monica L. Holland (New York-Finance), Doreen E. Lilienfeld (New York-Executive Compensation & Employee Benefits), Don J. Lonczak (Washington, DC-Tax), and Chris M. Smith (New York-Real Estate); counsel Jason Pratt (New York-Real Estate/Environmental); and associates Rory O’Halloran (New York-Mergers & Acquisitions), Cody Wright (New York-Mergers & Acquisitions), Naveen Thomas (New York-Mergers & Acquisitions), Nader Dabbo (New York-Mergers & Acquisitions), Frayda Ginsburg (New York-Real Estate), Nathan Tasso (Washington, DC-Tax), Tim Franklin (New York-Intellectual Property Transactions), Sean McGrath (New York-Executive Compensation & Employee Benefits) and Christopher Greer (New York-Real Estate/Environmental).