M&A Deal Summary

Flynn Group Acquires Pizza Hut

On June 7, 2023, Flynn Group acquired food company Pizza Hut from Allegro Funds

Acquisition Highlights
  • This is Flynn Group’s 1st transaction in the Food sector.
  • This is Flynn Group’s 1st transaction in Australia.

M&A Deal Summary

Date 2023-06-07
Target Pizza Hut
Sector Food
Buyer(s) Flynn Group
Sellers(s) Allegro Funds
Deal Type Add-on Acquisition

Target

Pizza Hut

New South Wales, Australia
Pizza Hut (Australia) is a pizza chain in the world with more than 12,000 pizza hut restaurants and delivery units operating worldwide. Pizza Hut (Australia) is based in New South Wales, Australia.

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Buyer(S) 1

Buyer

Flynn Group

Independence, Ohio, United States

Category Company
Founded 1999
Sector Restaurants
DESCRIPTION

Flynn Group owns and operates restaurants in 44 states. Its two divisions, Apple American Group and Bell American Group, represent 438 Applebee’s Neighborhood Grill and Bars and 76 Yum! Brands restaurants, respectively. Flynn Group was founded in 1999 and is based in Independence, Ohio.


DEAL STATS #
Overall 3 of 3
Sector: Food M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
Country: Australia M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 NPC International

Overland Park, Kansas, United States

NPC International is a Pizza Hut franchisee in the United States with approximately 790 stores. NPC International operated stores in 26 states with significant presence in the Midwest, South and Southeast. NPC International was founded in 1962 and is based in Overland Park, Kansas.

Buy -

Seller(S) 1

SELLER

Allegro Funds

Sydney, Australia

Investor Investor Investor Investor Investor


Category Distressed Investor
Founded 2004
PE ASSETS 4.8B AUD
Size Large
Type Sector Agnostic
DESCRIPTION

Allegro Funds is an independent private equity firm focused on mid-sized investment opportunities in Australia and New Zealand. The Firm will consider investing in businesses needing capital for growth, management buyouts, as well as more complex turnarounds and restructurings. Allegro's target investment size is A$10 to A$100 million in transactions valued up to A$300 million. Allegro is a generalist investor, however the Firm will not invest in property development, agriculture, or mining/exploration. Allegro Funds was formed in 2004 and is based in Sydney.


DEAL STATS #
Overall 11 of 16
Sector: Food M&A 1 of 2
Type: Add-on Acquisition M&A Deals 4 of 7
Country: Australia M&A 8 of 13
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-11 Slater & Gordon

Melbourne, Australia

Slater & Gordon is a consumer law firm with a growing presence in United Kingdom (UK) consumer law market. Slater and Gordon provides specialist legal services to individuals in a range of practice areas including all areas of liability and compensation law, as well as other general legal services in areas such as family and relationship law, conveyancing, wills and estate planning. Slater & Gordon was founded in 1935 and is based in Melbourne, Australia.

Buy $78M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-01 Endeavour Learning Group

Queensland, Australia

Endeavour Learning Group is an Australia’s higher education provider in natural therapies including Naturopathy, Nutrition, Acupuncture and Myotherapy. The college currently teaches over 3,500 students across six campuses in Adelaide, Brisbane, Gold Coast, Melbourne, Perth and Sydney. Endeavour Learning Group was founded in 1975 and is based in Queensland, Australia.

Sell -