Flynn Restaurant Group LP (“Flynn”), the largest franchise operator in America, today announced that it has acquired 937 Pizza Hut® and 194 Wendy’s® locations throughout the U.S. from Kansas City-based NPC International.
With a portfolio that already includes leading brands like Applebee’s®, Panera Bread®, Taco Bell®, and Arby’s®, the newly acquired Pizza Hut and Wendy’s restaurants will further Flynn’s goal of diversification between premier brands and segments within the restaurant industry. The transaction was supported by long-term partners Main Post Partners (“Main Post”) and Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”).
Flynn Restaurant Group will nearly double its restaurant count as a result of this acquisition, now owning and operating a combined total of 2,355 quick-service, fast-casual and casual dining restaurants, generating $3.5 billion in sales and employing 73,000 people in 44 states. Flynn’s subsidiaries include the largest Applebee’s franchisee, the largest Arby’s franchisee, the second largest Panera Bread franchisee, and the third-largest Taco Bell franchisee. These have now been joined by the largest Pizza Hut franchisee and the fifth largest Wendy’s franchisee.
“We are excited to announce the addition of Pizza Hut and Wendy’s to our portfolio,” said Greg Flynn, Founder, Chairman and Chief Executive Officer of Flynn Restaurant Group. “They bring with them a wonderful team of dedicated operators and support personnel, who we welcome whole-heartedly into the Flynn family. Further, both Pizza Hut and Wendy’s are deeply established as leading concepts in their sectors, and our entry into their systems furthers our goal to operate at scale in top-tier brands.”
Sean Honey, Managing Partner at Main Post, commented, “Over the course of our 15+ year partnership, Greg and the Flynn team have done a phenomenal job executing on a vision to grow from a single brand franchisee to now the premier operator in six leading, highly differentiated brands.”
Karen Frank, Senior Managing Director of Equities at Ontario Teachers’ added, “We are excited for the NPC team to join the Flynn organization and to partner with iconic brands like Pizza Hut and Wendy’s through this transformative acquisition.”
Flynn Restaurant Group remains committed to its vision of being the premier franchise group in the restaurant industry. Through its operations-centric business model that provides strong centralized support while pushing decision making and accountability to the local level, Flynn has created a team of operators who have a strong sense of responsibility and ownership.
This acquisition will allow the company to continue attracting the best talent at all levels, offering its current and new employees more opportunities to grow and expand their experience by transferring between various brands, segments, and geographies.
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