The Flynn Group also plans to open half a dozen new Wendy’s stores this year. | Photo: Shutterstock.
Flynn Group LP adds more Wendy’s restaurants to its growing portfolio.
The San Francisco-based franchise operator announced Thursday that it has acquired 83 Wendy’s stores in New Jersey and Pennsylvania. The deal brings the number of Wendy’s restaurants operated by the group in six states and Washington, DC, to 277.
Greg Flynn, founder and CEO of the franchise group, declined to disclose the seller.
However, one of the largest operators of Wendy’s in New Jersey and Pennsylvania is the Briad Group. The company did not immediately respond to questions about a possible sale.
For Flynn, however, the move reflects “our ongoing efforts to reposition ourselves toward quick service,” and he plans to expand the group’s ownership to include more Wendy’s stores.
“Wendy’s is a wonderful brand,” he said. “We are excited to grow with Wendy’s specifically.”
The Flynn Group operates more than 2,800 restaurants under six restaurant brands: Applebee’s, Arby’s, Taco Bell, Panera, Pizza Hut and Wendy’s. The group also owns Planet Fitness locations. Overall, the operator generates revenue of about $5 billion.
Wendy’s has been a particular target of late. Flynn first invested in Wendy’s as a franchisee three years ago, acquiring 190 stores across the United States.
Last year, the Flynn Group signed a master franchise agreement in Australia to open 200 restaurants over the next decade – and Flynn said the first restaurant is scheduled to open before the end of the year.
Earlier this year, the group acquired 21 Wendy’s stores in New Zealand, where further growth is also planned. The Flynn Group is now the sole Wendy’s franchise operator for both countries.
And Flynn said the group will also open new Wendy’s stores in the U.S., with half a dozen restaurants expected domestically this year.
The Flynn Group’s Wendy’s business will continue to be led by Brand President Rasheeda Clark, who joined the company in 2022.
Like many other fast-food restaurant chains, the Dublin, Ohio-based franchisor reported declining customer numbers in the second quarter, with traffic down two percent.
However, Flynn said his Wendy’s restaurants have not seen a decline in consumer spending as other brands have reported.
“Our sales and profits have held up quite well,” he said.
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