Flynn Restaurant Group, formerly known as Apple American Group, has expanded its Taco Bell portfolio with the acquisition of Gateway Bells, a Yum! Brands franchisee, on 21 August 2013.
Following the acquisition of Gateway Bells, Flynn Restaurant becomes third largest franchisee of operator of Taco Bell.
The Flynn Restaurant operates a total of 138 outlets, of which 133 are Taco Bells. This acquisition will add another 62 restaurants, which are located in Missouri and Illinois primarily in the St. Louis market, to its portfolio.
Majority of the newly acquired restaurant are Taco Bell and remaining are KFC and co-branded Taco Bell/Pizza Hut outlets.
According to Greg Flynn, founder chair and CEO of Flynn Restaurant Group, this deal will contribute approximately $80m revenues to the group.
Flynn said St. Louis market restaurants are in need of "some TLC." He plans to renovate the outletss and address deferred maintenance needs.
He added, "We'd like to do it all within the first 12 months."
In late 2012, Flynn Restaurant Group has bought Southern Bells. This deal added 76 restaurants located in Indiana, Illinois and Kentucky to the group's portfolio.
Following the acquisition of Gateway Bells, Flynn Restaurant becomes third largest franchisee of operator of Taco Bell.
The Flynn Restaurant operates a total of 138 outlets, of which 133 are Taco Bells. This acquisition will add another 62 restaurants, which are located in Missouri and Illinois primarily in the St. Louis market, to its portfolio.
Majority of the newly acquired restaurant are Taco Bell and remaining are KFC and co-branded Taco Bell/Pizza Hut outlets.
According to Greg Flynn, founder chair and CEO of Flynn Restaurant Group, this deal will contribute approximately $80m revenues to the group.
Flynn said St. Louis market restaurants are in need of "some TLC." He plans to renovate the outletss and address deferred maintenance needs.
He added, "We'd like to do it all within the first 12 months."
In late 2012, Flynn Restaurant Group has bought Southern Bells. This deal added 76 restaurants located in Indiana, Illinois and Kentucky to the group's portfolio.
