Flynn Group

Flynn Group LP is a major operator of franchise restaurants and health clubs. They operate approximately 2,600 franchise locations around the world, primarily Applebee’s, Pizza Hut, Arby's, Wendy's, Taco Bell, Panera Bread and Planet Fitness.

Flynn Group LP

Company type	Private company
Industry	Franchising
Founded	1999
Founder	Greg Flynn
Headquarters	San Francisco , USA
Areas served	Australia, New Zealand, USA
Number of employees	72,000 (2024)

History

The Group was founded in 1999 by Greg Flynn.^[1] Its first acquisitions were eight Applebee's franchises. Early financing was provided by Goldman Sachs. Applebees was initially wary of the Flynn Group controlling too many franchises and entered an agreement which limited the Group to 11% of franchises. In 2007, Applebees, then under new ownership, lifted the restriction and sold the Group a number of company owned stores. The Group expanded its Applebees holdings during the Great Recession.^[2]

In January 2013, the Group entered the fast food market by acquiring Southern Bells, a Taco Bell franchisee with 76 units in Indiana, Illinois, and Kentucky.^[3]

In August 2013, Flynn acquired Gateway Bells, a Taco Bell franchisee in the Midwest, primarily in Missouri and Illinois (mostly in St. Louis).^[4]

In 2018, the Group reported yearly sales of 2.3 billion. The Group historically avoided hamburger franchises, preferring niches with more differentiation between competitors.^[2]

Also in 2018, Flynn acquired 368 Arby's franchises from U.S. Beef.^[5]

In 2021, the Group acquired 937 Pizza Hut franchises during the bankruptcy of NPC International.^[6]

The Group began buying Wendy's franchises in 2021. As of 2024, it operated approximately 5% of Wendy's in the United States with a total of around 300 stores. It is also the master franchisee for Wendy's in New Zealand and Australia.^[7] The New Zealand franchisee Wendco (NZ) Ltd. was acquired in 2023 from the Lendich family.^[8]

In 2024, they claimed to be the largest operator of franchises in the world.^[9] They were also the largest Applebees operator in the world with more than 450 restaurants. Annual sales were approximately $4.5 billion.^[10]

In 2024, the Group reportedly explored the sale of a majority stake in the company.^[1] However the company quickly denied that they had with Greg Flynn clarifying that they were instead undergoing an equity recapitalization.^[11]

In March 2024, in response to claims that the Group had inserted a loophole into California law which would allow Panera franchises to charge lower wages than other restaurants, Gregg Flynn said that all of the Group's restaurants in California would pay $20 dollars an hour or better.^[12]

In August 2024, Flynn acquired 83 Wendy's units in Pennsylvania and New Jersey.^[13] Then in November of the same year, the Group bought 32 Wendy's franchises in Indianapolis.^[14]

Operations

The Group is headquartered in San Francisco.^[15] A support office is located in Independence, Ohio.^[2]

As of 2024, the Group operated around 2,600 franchise locations around the world, primarily of Applebee’s, Arby's, Pizza Hut, Wendy's, Panera Bread, Taco Bell, and Planet Fitness.^[11] They had approximately 72,000 employees.^[10]

The company engages in a complex menu strategy overseen by a team of economists and data scientists.^[16]

Investors

Company managers, the Ontario Teachers' Pension Plan, and private equity group Main Post Partners each own roughly a third of the company.^[1]