Flynn Restaurant Group LP (“Flynn”), the largest franchise operator in America, today announced that it has acquired 937 Pizza Hut® and 194 Wendy’s® locations throughout the U.S. from Kansas City-based NPC International. With a portfolio that already includes leading brands like Applebee’s®, Panera Bread®, Taco Bell® and Arby’s®, the newly acquired Pizza Hut and Wendy’s restaurants will further Flynn’s goal of diversification between premier brands and segments within the restaurant industry. The transaction was supported by long-term partners Main Post Partners (“Main Post”) and Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”).
Flynn Restaurant Group will nearly double its restaurant count as a result of this acquisition, now owning and operating a combined total of 2,355 quick-service, fast casual and casual dining restaurants, generating $3.5 billion in sales and employing 73,000 people in 44 states. Flynn’s subsidiaries include the largest Applebee’s franchisee, the largest Arby’s franchisee, the second largest Panera Bread franchisee, and the third largest Taco Bell franchisee. These have now been joined by the largest Pizza Hut franchisee and the 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 Chief Executive Officer of Flynn Restaurant Group. “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.”
Sean Honey, Managing Partner at Main Post, commented, “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.”
Karen Frank, Senior Managing Director of Equities at Ontario Teachers’ 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.”
Flynn Restaurant Group remains committed to its vision of being the premier franchise group in the restaurant industry. Through its operations-centric business model that provides strong centralized support while pushing decision making and accountability to the local level, Flynn has created a team of operators who have a strong sense of responsibility and ownership. This acquisition will allow the company to continue attracting the best talent at all levels, offering its current and new employees more opportunities to grow and expand their experience by transferring between various brands, segments, and geographies.
About Flynn Restaurant Group LLC
Flynn Restaurant Group LP is the largest franchise operator, and one of the top 20 largest food service companies of any kind, in the United States. Founded by Chairman & CEO Greg Flynn in 1999, Flynn Restaurant Group owns and operates 2,355 Applebee’s, Taco Bell, Panera, Arby’s, Pizza Hut and Wendy’s restaurants spanning 44 states, generating $3.5 billion in sales, and employing 73,000 people. More information is available at www.flynnrg.com.
About Main Post Partners
Main Post Partners is a private equity investment firm focused on investing in proven growth companies across the consumer value chain. Main Post Partners invests in both majority and minority positions primarily in first institutional capital situations where founders, entrepreneurs and management teams are looking for an experienced partner to help build their companies to full potential. With a “Partnership, not Ownership” approach, Main Post Partners works closely with a network of successful executives to provide operational and strategic support to its management partners. Main Post Partners was named to Inc.’s list of The 50 Best Private Equity Firms for Entrepreneurs.
About Ontario Teachers’
The Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with C$204.7 billion in net assets (all figures at June 30, 2020 unless noted). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.5% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific regional offices are in Hong Kong and Singapore, and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded as at January 1, 2020, invests and administers the pensions of the province of Ontario’s 329,000 active and retired teachers. For more information, visit otpp.com.
