NPC’s Canceled Auctions Pave Way for Sale Of Wendy’s, Pizza Hut Chains to Flynn

NPC International Inc., the nation’s largest franchisee of Pizza Hut and
Wendy’s
restaurants, canceled auctions for all of its assets last night, paving the way for a potential sale of the entire company to the Flynn Restaurant Group LLC.

Wendy’s Co. has opposed the sale to Flynn, the largest restaurant franchisee in the U.S., and instead has made its own offer with a consortium of regional franchisees.

Wendy’s is in talks with NPC to drop its opposition in return for an agreement by Flynn to invest tens of millions of dollars in NPC’s Wendy’s restaurants, according to people familiar with the matter.

San Francisco-based Flynn owns more than 1,200 restaurants, including Applebee’s, Arby’s, Taco Bell and Panera Bread brands across 33 states. Some of those brands compete with Wendy’s.

Wendy’s continues to be an active participant in the chapter 11 sales process, including its continued pursuit of a consortium bid

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Fast-food chains go on expansion spree, as independents close

  • Wingstop, Wendy’s, and Starbucks are among the chains that have highlighted real estate opportunities amid the pandemic in recent calls with investors. 
  • “The real estate market is favorable for Wingstop, given the unfortunate circumstance of this pandemic,” Wingstop CEO Charlie Morrison said on a call with investors on Monday. 
  • Roughly 20% of independent restaurants are expected to permanently shutter in the pandemic, according to UBS analyst Dennis Geiger, representing the loss of roughly 70,000 location across the US. 
  • Visit Business Insider’s homepage for more stories.

Fast-food chains are preparing to gobble up restaurants across America, as the pandemic provides real estate opportunities in the wake of independent restaurants’ closures. 

Wingstop CEO Charlie Morrison said that the chain anticipated opening 135 to 140 net new restaurants this year, up from the company’s earlier prediction of 95. According to the executive, “everything is lining up for a solid year” for development in

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