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Flynn Group, which operates popular franchises such as Applebees, Taco Bell, Panera Bread, Arby's, Pizza Hut, Wendy's, and Planet Fitness, is considering a majority stake sale that could value the company at more than $5 billion, including debt, according to sources familiar with the matter.
Working alongside Bank of America, Flynn Group, the world's largest franchisee operator of restaurants and fitness clubs, is actively engaged in a sale process, according to Reuters.
Impressive Financial Performance
Based in San Francisco, Flynn Group boasts an annual earnings before interest, taxes, depreciation, and amortization (EBITDA) of over $450 million, as disclosed by the sources. The company generates annual sales exceeding $4.5 billion.
According to anonymous sources close to the matter, private equity firms and sovereign wealth funds are among the potential suitors for the majority stake and are interested in acquiring Flynn Group.
Key Investors May Retain Stake
US News reported that Ontario Teachers' Pension Plan (OTPP) and private equity firm Main Post Partners, both investors in Flynn Group, may consider selling a portion of their stakes while remaining invested following the deal, the sources added.
The sources further disclosed that significant shareholders and Flynn Group's management team members are also considering selling part of their stakes.
As stated by the sources, OTPP currently owns approximately one-third of Flynn Group, Main Post slightly over one-third, and Flynn Management the rest.
Due to the confidential nature of the matter, representatives for Flynn Group, OTPP, Main Post, and Bank of America declined to comment on the ongoing sale process.
