Clifford Chance

Clifford Chance advises Allegro Funds on sale of Pizza Hut Australia to Flynn Restaurant Group

Leading international law firm Clifford Chance has advised Australian private equity firm Allegro Funds on the sale of Pizza Hut Australia to a wholly owned subsidiary of Flynn Restaurant Group, the first acquisition by Flynn outside of the US. Flynn is the US' largest restaurant franchisee, owning more than 2,350 Applebee's, Taco Bell, Panera Bread, Arby's, Wendy's and Pizza Hut restaurants.

Lead partner Mark Currell said, "We are delighted to advise Allegro Funds on the successful exit of its investment in Pizza Hut Australia. We wish Pizza Hut Australia and Flynn Restaurant Group a bright future in their next phase of growth."

Mark was supported by counsel Marcus Berghouse, senior associate Alexander Duffy, associate Melanie Ray and trainee lawyer Meg Green.

Allegro Funds specialises in investing in turnaround, transformation and special situations, and has assets under management in excess of AU$4 billion.

Pizza Hut is the largest pizza chain in the world, with more than 19,000 restaurants in over 100 countries. Pizza Hut Australia operates approximately 260 stores in Australia.

Clifford Chance regularly advises on the most significant private equity M&A transactions in Australia including Partners Group on the sale of CWP Renewables, the largest renewable energy deal in Australia to date, the financing of Anchorage Capital Partners' acquisition of luxury retailer David Jones and Five V Capital on its investment in sustainable packaging company BioPak.