America-based Flynn Restaurant Group to Acquire Pizza Hut Australia

Flynn Restaurant Group LP is acquiring Pizza Hut Australia, purchasing about 260 Pizza Hut restaurants in the country.

Terms of the agreement were not announced, as per the report.

Flynn Restaurant Group, owner of eateries including Applebee’s, Taco Bell, Paners, Wendy’s and Pizza Hut, 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 post the acquisition.

"This is an incredibly exciting moment for Flynn Restaurant Group. 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,” shared Greg Flynn, Founder, Chairman and CEO of Flynn Restaurant Group.

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," added Reed said in the press release.

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," pointed Aaron Powell, Pizza Hut Global CEO.