Franchising

Flynn Restaurant Group LP to acquire Pizza Hut Australia

Provided

June 8, 2023

Flynn Restaurant Group LP will acquire Pizza Hut Australia, purchasing nearly 260 Pizza Hut restaurants in the country. Terms of the agreement were not announced, according to a press release.

Upon closing of the transaction, Flynn Restaurant Group will have more than 2,600 quick‑service, fast casual and casual dining restaurants, generating $4.5 billion in sales and employing more than 75,000 people. The Flynn portfolio includes some of the world's most recognized and top-tier brands including Applebee's, Taco Bell, Panera, Arby's, Pizza Hut and Wendy's.

"This is an incredibly exciting moment for Flynn Restaurant Group," Greg Flynn, founder, chairman and CEO of Flynn Restaurant Group, said in the press release. "We spent our first 12 years growing in Applebee's, and then the next 12 years diversifying as a domestic franchise operator. In this next chapter, we're layering on international expansion, and the growth potential is essentially unlimited."

Under the leadership of CEO Phil Reed, Pizza Hut Australia has delivered 50 consecutive months of positive same store sales growth, creating record revenues and value for the business.

"Flynn Restaurant Group's investment is a strong endorsement of our high-caliber team and the brand's success, marking the beginning of an exciting new growth chapter for Pizza Hut in Australia," Reed said in the press release. "Flynn is the premier franchise group in the restaurant industry, with a reputation for excellence in operations and overall execution. We are excited to bolster our growth trajectory with Flynn's backing and unmatched franchise expertise so that we can continue to deliver world-class Pizza Hut experiences for our customers down under."

The purchase is expected to be completed by the end of June 2023.

"We are thrilled to see a highly valued, capable, and committed U.S. franchise partner, Flynn Restaurant Group, expanding their relationship with Pizza Hut through the acquisition of the Master Franchisee license in Australia," Aaron Powell, Pizza Hut Global CEO said in the press release. "With the opportunity to build on an already strong foundation, I am confident that the Flynn Restaurant Group team will bring fresh ideas and capital that extend momentum and forge deeper connections with customers in this important Pizza Hut market. The move is an exciting step forward for Pizza Hut in Australia."