Flynn Restaurant Group to acquire 925 Pizza Hut’s and 393 Wendy’s

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NPC International announced that following a successful mediation, it will sell before most of its restaurants to the Flynn Restaurant Group.

A hearing before the United States Bankruptcy Court for the Southern District of Texas will consider the approval of the sale on January 15, 2021.

The combined purchase price of the two sale transactions is roughly $801M. According to the purchase agreements filed with the Court:

  • Flynn will acquire over 925 of NPC’s Pizza Hut Restaurants, about half of NPC’s Wendy’s restaurants, and substantially all of NPC’s shared service assets

  • Wendy’s will acquire NPC’s remaining Wendy’s restaurants and assign the right to acquire restaurants to five current Wendy’s franchisees

  • The Purchasers have agreed to offer positions of employment to all of NPC’s restaurant field operations employees and substantially all other non-field NPC employees

Both transactions are expected to be completed by the second quarter of 2021.

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