US-based restaurant group buys Pizza Hut’s Australia business
The group has 926 Pizza Hut restaurants in its portfolio.
US-based restaurant group Flynn Restaurant Group has acquired the Pizza Hut Master Franchisee license for Australia from funds owned by Sydney-based private investment firm Allegro Funds.
This marks the group’s first international investment.
Flynn is considered to be the largest restaurant franchise operator in the United States with a portfolio of over 2,350 restaurants including 926 Pizza Huts as well as 441 Applebee’s, 379 Arby’s, 282 Taco Bells, 192 Wendy’s and 130 Panera Bakery Cafes.
The acquisition of Pizza Hut Australia includes nearly 260 restaurants.
Flynn Restaurant Group Co-Chief Operating Officer Ron Bellamy said Pizza Hut Australia represents the ideal opportunity for Flynn to expand internationally, whilst at the same time growing in a brand that the Group has so much faith in.
“Simply put, the more we’ve learned about this business, the more excited we’ve become about it. Phil and the management team have done a phenomenal job delivering 51 consecutive months of positive same-store sales growth whilst creating record revenues and value for its franchise partners,” Bellamy said.
Pizza Hut Australia’s existing management team led by its experienced CEO Phil Reed will continue to run the business.
The acquisition has received Foreign Investment Review Board approval and is subject to consent by Pizza Hut's global brand owner, Yum! Brands, and is expected to complete by the end of June 2023.
