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Pizza Hut and Wendy’s has a new owner, and it was revealed to be Flynn Restaurant Group. The franchise empire recently completed the acquisition of the said famous restaurant brands that effectively expanded its business.
As reported on the Restaurant Business Online, Flynn Group which already owns a number of restaurants including Taco Bell, Applebee’s, Panera, and Arby’s, just purchased 937 Pizza Hut and 194 Wendy’s restaurant outlets from NPC International that recently went bankrupt.
The official announcement of the acquisition
It was shared that the deal is currently the largest franchisee-to-franchisee acquisition to date in the history of America. The addition of Pizza Hut and Wendy’s to its portfolio instantly doubled Flynn Restaurant Group’s restaurant count.
Moreover, it is already expected that the company will record a boosted earnings of around $3.5 billion in annual sales from its 2,355 restaurant locations.
According to Flynn’s CEO and founder Greg Flynn, Pizza Hut and Wendy’s brands will bring in more revenues and “a wonderful team of dedicated operators and support personnel, who are welcome whole-heartedly into the Flynn family.”
“We are excited to announce the addition of Pizza Hut and Wendy’s to our portfolio,” he said via press release. “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.”
Senior managing director of Equities at Ontario Teachers,’ Karen Frank, 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.”
The end of NPC International
The sale of Pizza Hut and Wendy’s to Flynn Restaurant Group marks the end of NPC, which was formerly the second-largest franchisee in the U.S. after FRG. The company started to crumble due to a 2018 debt leveraged buyout and low sales at Pizza Hut.
Finally, this situation escalated to deeper financial problems that NPC International could no longer handle. Thus, in the end, the company was forced to declare bankruptcy and sold its restaurants and other assets.
