Pizza Hut Australia is SOLD – as the franchise struggles to compete against Dominos
Fast-food giant Pizza Hut has been sold to one of the largest franchise operators in the world.
US-based Flynn Group revealed on Thursday it had purchased the Pizza Hut Australia licence from Sydney-based Allegro Funds.
Pizza Hut Australia operates nearly 260 stores through Australia and employs about 4000 people.
Chief executive Phil Reed said the sale was an endorsements of the pizza brand’s success in Australia, more than 50 years after the first store opened.
‘Flynn is the premier franchise group in the industry, with reputation for excellence and empowering their franchise owners,’ he said.
‘We are excited to bolster our growth trajectory supported by Flynn’s investment backing and unmatched franchisee expertise.
‘That way we can continue to deliver world-class Pizza Hut experiences for our customers Down Under.’
Flynn is one of the largest operators of Pizza Hut restaurants, with the sale representing the company’s first overseas venture.
Its portfolio spans more than 2350 stores, including 926 Pizza Huts, 441 Applebee’s, 379 Arby’s, 282 Taco Bells and 192 Wendy’s stores.
MORE TO COME.
More to come.
