Flynn Restaurant Group To Buy Half Of The Wendy's Outlets That Are Operated By Bankrupt NPC Quality Burgers
Fast-food chain Wendy's Co has said that restaurant operator Flynn Restaurant Group will buy half of its nearly 400 outlets that are operated by bankrupt NPC Quality Burgers Inc, with the rest being bought by several of its existing franchisees.
The announcement brings an end to a bitter public battle between Wendy's and Flynn, both of which submitted bids in November of last year.
Wendy's said that it does not expect to acquire and operate any restaurants as part of the deal, which is expected to be completed by the second quarter of 2021, according to a regulatory filing.
Separately, The Wall Street Journal reported that NPC, which is the USA's largest franchisee of Pizza Hut and Wendy's restaurants, agreed to sell its restaurants in separate deals worth approximately $800 million involving Flynn and Wendy's.
NPC filed for bankruptcy protection in July and started the process to sell its assets, including its interests in Wendy's restaurants, across several markets.
Wendy's filed an objection in November to the sale of certain NPC assets to Flynn, saying that the bidder also operates a few of its competitors' restaurants.