Allegro acquires Pizza Hut Australia master franchise agreement
Australian private equity firm, Allegro, has acquired the master franchise licence for Pizza Hut Australia from its parent company, Yum! Brands.
The acquisition cost has not been disclosed.
Allegro acquired the franchise agreement with a local management buy-in team experienced within the fast food sector; Peter Rodwell, Lisa Ransom and Chris Leslie.
The acquisition comes at a time when Pizza Hut visitation rates have been falling. In August 2016, Roy Morgan Research reported that between 2012 and 2016, Pizza Hut’s average monthly visitors had fallen by 25 per cent.
Allegro founding partner, Chester Moynihan, said Allegro’s immediate focus for Pizza Hut Australia will be to strengthen the network across Australia through increased investment, resources and management focus.
“Pizza Hut has been a household name in Australia since the early 1970s. It was one of the first pizza companies to home deliver in Australia and we want to revive this innovative legacy to enhance the experience for customers,” Moynihan said.
“This is a unique opportunity to leverage a recognised brand within a growing market segment. We see this is an exciting outcome for our investors as well as a growth opportunity for Pizza Hut franchisees and employees,” he stated.
Outgoing Pizza Hut Australia General Manager, Graeme Houston, described the acquisition as an exciting change for how Pizza Hut operates in Australia.
This is an exciting step change in how Pizza Hut operates in this market which will accelerate growth and deliver Pizza Hut to more consumers across Australia,” Houston said.
About the management buy-in team
- Lisa Ransom will be Chief Executive Officer. She has worked in a variety of Quick Service Restaurant leadership roles across Australia and Asia in the past 20-years including at McDonald’s Japan and Australia.
- Peter Rodwell will take up the role of Executive Chairman. He has also worked in senior roles at McDonald’s
- Chris Leslie will be Chief Operating Officer. His background is in finance, restaurant operations and franchising.