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San Francisco-based Flynn Group is increasing its restaurant portfolio by buying 83 Wendy’s eating places in New Jersey and Pennsylvania. This buy will increase the variety of Wendy’s areas operated by the agency to 277 throughout six states and Washington, D.C. The transfer is a part of an ongoing technique to extend Flynn Group’s presence within the quick-service sector, with the particular goal to develop with the Wendy’s model.
Flynn Group founder, chairman and CEO Greg Flynn informed Restaurant Business that the acquisition was a part of “an ongoing effort to rebalance ourselves towards fast service” and that he plans so as to add extra Wendy’s to the corporate’s holdings.
Flynn Group already operates greater than 2,800 eating places throughout manufacturers, together with Applebee’s, Arby’s, Taco Bell, Pizza Hut and Wendy’s, producing about $5 billion in gross sales yearly. Nevertheless, final 12 months, as inflation battered the fast-food restaurant business, Flynn Group made its first non-restaurant enterprise, buying 37 Planet Fitness areas (and rebranding the corporate from Flynn Restaurant Group to Flynn Group within the course of).
Flynn’s curiosity in Wendy’s started three years in the past with the acquisition of 190 items within the U.S. The group has since expanded its Wendy’s holdings internationally with plans for important progress in Australia and New Zealand. Regardless of business challenges, Flynn Group’s Wendy’s areas have maintained robust gross sales and profitability, in response to Restaurant Enterprise.
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Flynn purchased his first eight Applebee’s franchises in 1999 for $14 million after cold-calling their proprietor. Two years later, he bought a further 62 areas, setting the trajectory of progress he is nonetheless following right now.
Learn Extra: Restaurant Business
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