The franchise group Flynn Restaurant Group, who currently own over 900 Pizza Hut stores across the USA, have acquired the pizza brand’s franchise licence in Australia, from Allegro Funds.
This acquisition is the first franchise investment internationally, with their current portfolio of franchises (Applebee’s, Arby’s, Panera, Pizza Hut, Taco Bell and Wendy’s) all being US based.
With the acquisition, Flynn Restaurant Group will become operator of the 260 existing stores, whilst also having the development rights across the country.
Allegro Funds, the Sydney-based private equity firm, had, seven years ago, acquired the master franchisee licence for Pizza Hut in Australia from US-based parent company Yum! Brands.
Another of the Yum! restaurant brands is Taco Bell, which is operated in Australia by a different franchise partner. They have been opening new stores in recent months.
Yum! announced record store openings across 2022.
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