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San Francisco-based Flynn Group is expanding its restaurant portfolio by acquiring 83 Wendy's restaurants in New Jersey and Pennsylvania. This purchase increases the number of Wendy's locations operated by the firm to 277 across six states and Washington, D.C. The move is part of an ongoing strategy to increase Flynn Group's presence in the quick-service sector, with the specific aim to grow with the Wendy's brand.
Flynn Group founder, chairman and CEO Greg Flynn told Restaurant Business that the acquisition was part of "an ongoing effort to rebalance ourselves toward quick service" and that he plans to add more Wendy's to the company's holdings.
Flynn Group already operates more than 2,800 restaurants across brands, including Applebee's, Arby's, Taco Bell, Pizza Hut and Wendy's, generating about $5 billion in sales annually. However, last year, as inflation battered the fast-food restaurant industry, Flynn Group made its first non-restaurant venture, acquiring 37 Planet Fitness locations (and rebranding the company from Flynn Restaurant Group to Flynn Group in the process).
Flynn's interest in Wendy's began three years ago with the acquisition of 190 units in the U.S. The group has since expanded its Wendy's holdings internationally with plans for significant growth in Australia and New Zealand. Despite industry challenges, Flynn Group's Wendy's locations have maintained strong sales and profitability, according to Restaurant Business.
Flynn bought his first eight Applebee's franchises in 1999 for $14 million after cold-calling their owner. Two years later, he purchased an additional 62 locations, setting the trajectory of growth he's still following today.
Read More: Restaurant Business
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