, Australia

Pizza Hut Australia owner taps bankers to ready potential buyers — report

Allegro Funds is preparing to auction the pizza franchise.

Allegro Funds, the owner of Pizza Hut in Australia, has hired Miles Advisory and had the firm’s dealmakers preparing potential buyers for a confidential auction, the Financial Review reported.

Pizza Hut Australia CEO Phil Reed told QSR Media it is "hoped" a process will start next year.

"COVID shutdowns at the beginning of the year slowed new store openings so Allegro decided to wait until 2023," he clarified.

Editor's Note: The article has been updated to include a response from Pizza Hut Australia CEO Phil Reed.

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