Franchise operator Flynn Restaurant Group has acquired Pizza Hut Australia, marking Flynn’s first international acquisition.
Flynn is buying the Australia franchising license from Sydney-based private investment firm Allegro Funds, adding 260 Pizza Hut restaurants in the country to its lineup, according to Bloomberg News. Flynn already owns 945 Pizza Huts in its home market. The deal will give Flynn about 2,600 locations across the two countries and looks to boost annual sales to roughly $4.5 billion from $4.2 billion. Flynn co-chief operating officer Ron Bellamy will oversee the Australian business, though the existing management team will continue to run the operation.