Allegro acquires Pizza Hut
Australian private equity fund manager Allegro, together with a local management buy-in (MBI) team, acquired the master franchisee licence for Pizza Hut in Australia from Yum! Brands.
Allegro Founding Partner Chester Moynihan said the Pizza Hut transaction represented an innovative QSR investment model. “Our immediate focus will be strengthening the network of Pizza Hut stores across Australia through increased investment, resources and management focus,” he said.
“Pizza Hut has been a household name in Australia since the early 1970s. It was one of the first pizza companies to home deliver in Australia and we want to revive this innovative legacy to enhance the experience for customers. This is a unique opportunity to leverage a recognised brand within a growing market segment. We see this is an exciting outcome for our investors as well as a growth opportunity for Pizza Hut franchisees and employees.”
Experienced executives Peter Rodwell, Lisa Ransom and Chris Leslie, make-up the management buy-in team and will take leadership roles in the business.
Peter Rodwell will be Executive Chairman following a highly distinguished and successful QSR career. Lisa Ransom will be Chief Executive Officer. Lisa has worked in a variety of QSR leadership roles across Australia and Asia during the past 20-years. Chris Leslie will be Chief Operating Officer and has deep experience in finance, restaurant operations and franchising.
The new management team will meet Pizza Hut franchisees as soon as possible to build strong working relationships and to seek their input into the development of customer focused initiatives that have immediate cut-through in the highly competitive QSR sector.
