Flynn Restaurant Group announced Wednesday that the franchise company has completed the acquisition of NPC International’s Pizza Hut portfolio of 937 locations, and most of the company’s Wendy’s restaurants (194 units), in a deal that was previously announced in January.
With the deal, Flynn Restaurant Group will almost double its restaurant count to 2,355 quick-service, fast casual and casual dining restaurants in 44 states (including its Applebee’s, Taco Bell, Panera, and Arby’s restaurants), solidifying its position as the largest U.S. franchise operator in terms of sales, with $3.5 billion in annual sales. With the acquisition, Flynn Restaurant Group has also become the largest Pizza Hut franchisee and 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 CEO of Flynn Restaurant Group said in a statement. “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.”
NPC International declared bankruptcy last summer and agreed to the sale of its assets (including selling its remaining Wendy’s locations back to the company) in a transaction worth $801 million.
“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,” Sean Honey, Managing Partner at Main Post said in a statement.
The transaction was supported by long-term partners Main Post Partners and Ontario Teachers’ Pension Plan Board.
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