Flynn Restaurant Group Acquires 368 Arby's Locations
U.S. Beef announced on Wednesday the sale of all its restaurants, passing the mantle of largest Arby's restaurant franchisee to RB American Group, a wholly owned subsidiary of the Flynn Restaurant Group. Flynn is also a franchise operator of Applebee's, Panera Bread and Taco Bell. The Arby's acquisition brings the Flynn Restaurant Group's portfolio to a total 1,245 quick-service, fast casual and casual dining restaurants. Together they account for $2.3 billion in sales, the most of any franchisee ever.
“It was never our exit strategy to sell US Beef. However, about a year ago, John Davis, our CEO, and myself started hearing from investors who were looking to expand their portfolios,” said Jeff Davis, chairman of U.S. Beef. “For us, if we were going to do it, it would have to be a true restaurateur who had a similar family culture to ours.
“Flynn Restaurant Group expressed the desire to continue to grow the brand and take care of our people like we have these past 50 years. The brand was strong, our people are the best in the industry and it just felt like now was the right time.” —Mike Averill, Tulsa World
Greg Flynn, founder, chairman and CEO of Flynn Restaurant Group, said:
“The Davis family and their team of great operators built a fantastic business over 50 years, and we’re privileged to be the ones to shepherd the U.S. Beef restaurants into their next phase. In addition, standing in a category of its own, the Arby’s brand aligns perfectly with our preference for brands that are truly differentiated and ‘best in breed’ in their segments.” —Averill, Tulsa World