UK elite law firm Clifford Chance advised Australian private equity firm Allegro Funds on the sale of Pizza Hut Australia to a subsidiary of US restaurant franchisee Flynn Restaurant Group.
Flynn is acquiring 260 Pizza Hut restaurants in Australia in the transaction, which is expected to close by the end of the June, according to a statement.
The acquisition is the first outside of the US for San Francisco-based Flynn. The company says it has 2,350 restaurants, including 926 Pizza Huts in the US, as well as 441 Applebee’s, 282 Taco Bells, 130 Paneras, 379 Arby’s, and 192 Wendy’s restaurants. ...
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