Daily Newsletter

12 February 2024

Daily Newsletter

12 February 2024

Flynn Restaurant Group explores $5bn stake sale

The group's annual earnings before interest, taxes, depreciation and amortisation exceed $450m.

Umesh Ellichipuram February 12 2024

US-based Flynn Restaurant Group (FRG) is considering the sale of a majority stake that could value the company at upwards of $5bn, according to Reuters.

FRG is collaborating with Bank of America to facilitate the sale process.

Headquartered in San Francisco, the group operates 2,350 restaurants. Its diverse portfolio of franchises includes Applebee's, Taco Bell, Panera Bread, Arby's and Pizza Hut.

Flynn Group's annual earnings before interest, taxes, depreciation and amortisation exceed $450m.

Potential buyers for the majority stake include private equity firms and sovereign wealth funds.

The Ontario Teachers' Pension Plan, Main Post Partners and other current investors in Flynn Group may partially divest their holdings while maintaining a stake post-deal.

Flynn Group's management, which also holds a significant share of the company, may consider a similar move.

OTPP owns one-third of the group while Main Post has a slightly larger share and the remainder is held by the management.

In June 2023, Allegro Funds agreed with Flynn Restaurant Group to divest its stake in Pizza Hut Australia.

According to a Business News Australia report, the acquisition is said to be the first for the group beyond its home base.

Allegro collaborated with Pizza Hut’s CEO Phil Reed and its management team to transform the business into one of Australia’s fastest-growing quick-service restaurant brands.

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close