As part of the deal, TelePizza will become the largest master franchisee for Pizza Hut, which will strengthen its position as a multi-country pizza operator globally.
The Spanish chain will operate Pizza Hut stores and oversee the brand’s franchisees alongside operating its business in Portugal.
Telepizza will also continue to operate Pizza Hut stores in Latin America (excluding Brazil) and the Caribbean as well as rebrand its stores in the region to Pizza Hut.
Pizza Hut International president Milind Pant said: “Geographically, this long-term, strategic alliance with Telepizza Group will make Pizza Hut accessible to more consumers over time, helping fulfil our mission of making it easier to get a better quality pizza.”
In addition, Telepizza has plans to open at least 1,300 new stores over the next ten years across the regions covered in the alliance as well as 2,550 stores in total over 20 years.
The deal will make Telepizza an authorised supplier of Pizza Hut establishments and the manager of its supply chain operations.
As part of the alliance, the Spanish restaurant franchisee will double its store portfolio to more than 2,500 locations with presence in 37 countries and expects to generate €1.1bn in revenue.