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- Flynn Restaurant Group
Flynn Restaurant Group Valuation, Funding & Investors
Flynn Restaurant Group is valued at $1B as of May 2014.
Last Flynn Restaurant Group valuation
$1B
Undisclosed stage · May 2014
Last Flynn Restaurant Group funding round
$300M
Undisclosed stage · May 2014
Cumulative funding Flynn Restaurant Group raised
$300M
across 1 funding round
Key investors in Flynn Restaurant Group
Ontario Teachers' Pension Plan
Greg Flynn
About Flynn Restaurant Group
Flynn Restaurant Group is a San Francisco-headquartered franchise operator managing over 1,200 locations of Applebee's, Arby's, Panera Bread, and Taco Bell across 44 US states. It oversees daily operations, supply chain logistics, and remodels to boost sales. Founded in 1997, Flynn holds master franchise agreements emphasizing guest satisfaction and technology like kiosks for ordering. The group expands through acquisitions and new builds in suburban and urban markets.
Founded
1994
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$1B (May 2014)
Sectors
Flynn Restaurant Group Valuation
Flynn Restaurant Group is currently valued at $1B, based on its undisclosed-stage round in May 2014.
The $300M round included Ontario Teachers' Pension Plan and Greg Flynn.
Flynn Restaurant Group valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2014 | Undisclosed stage | $1B |
Flynn Restaurant Group Funding History
Flynn Restaurant Group has raised a total of $300M across 1 funding round.
Flynn Restaurant Group funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2014 | Undisclosed stage | Ontario Teachers' Pension Plan; Greg Flynn | $300M | $1B | Flynn Restaurant Group, founded in 1999, is the largest restaurant franchisee in the US, operating 640 restaurants including 470 Applebee's and 170 Taco Bell locations across 27 states, employing 36,000 people. The company received a $300 million strategic investment on May 29, 2014, from Ontario Teachers' Pension Plan alongside Greg Flynn, marking the first time a US franchise group was valued at more than $1 billion. This investment allowed GS Capital Partners and Weston Presidio to realize value through sale of their interests, with prior investments from GS (2001-2005) and Weston Presidio (2005-2011). At the time, Flynn generated $1.4 billion in annual sales, positioning it among the 50 largest foodservice companies. The investment supports Flynn's continued growth through multiple initiatives, building on its scale and operational focus on local market empowerment combined with corporate resources. Flynn was the first US franchise group to exceed $1 billion in sales prior to this valuation milestone. The deal closed in late May 2014, aligning with the specified investors and approximate date. By later years, Flynn expanded further, reaching 800 locations across Applebee's, Taco Bell, and Panera Bread with projected $1.9 billion revenue in 2015, and Forbes estimating the company worth about $1.5 billion at that time. |
Who has invested in Flynn Restaurant Group?
2 investors have backed Flynn Restaurant Group across its funding rounds, including Ontario Teachers' Pension Plan and Greg Flynn.
Flynn Restaurant Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Flynn Restaurant Group
Flynn Restaurant Group has acquired 4 companies to date.
Last acquisition by Flynn Restaurant Group was on March 30th 2026. Flynn Restaurant Group acquired Grand Fitness Partners for undisclosed valuation.
Latest Acquisitions by Flynn Restaurant Group
| Description | Grand Fitness Partners is a franchisee of Planet Fitness gyms. | Wendy's New Zealand operations is an Auckland-headquartered franchise owned by Restaurant Brands New Zealand Ltd., serving flame-grilled burgers and salads from 12 locations nationwide. Established in 1984, it sources potatoes from local farms in Canterbury for fresh-cut fries. | Pizza Hut Australia is a Brisbane-headquartered franchise chain offering pizzas, pasta, wings, and garlic bread for dine-in, takeaway, and delivery nationwide. Part of the Yum! Brands network, it emphasizes digital ordering through its app and website. | NPC International is a restaurant operator and franchisee focused on quick-service chains. Wichita-based in Kansas, the company managed over 1,200 Pizza Hut locations across 28 states before its 2020 bankruptcy restructuring. It now concentrates on developing and consolidating brands like Pizza Hut through asset optimization and store remodels. Founded in 1962, NPC International partners with Yum! Brands for delivery and dine-in services, maintaining a footprint in Midwest and Southern markets. |
| HQ Country | ||||
| HQ City | Toms River, NJ | Auckland | Sydney | Kansas City, KS |
| Deal Date | 30 Mar 2026 | 21 May 2024 | 7 Jun 2023 | 1 Mar 2021 |
| Valuation | undisclosed | undisclosed | undisclosed | $553M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Flynn Restaurant Group acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Flynn Restaurant Group Competitors
Flynn Restaurant Group competitors include listed companies like Wetherspoons and Ohsho Food Service, and private ones like Just Salad, Kopi Kenangan, Restaurant365 and Hefu Noodle.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $195M | - | $1B | 5.1x | ||
| Private | $184M | - | $1B | 5.4x | ||
| Private | $100M | - | $1B | 10.0x | ||
| Publicly listed | $2.9B | $358M | $1B | 0.9x | ||
| Publicly listed | $751M | $89M | $993M | 1.2x | ||
| Private | - | - | $1B | - |
Flynn Restaurant Group Public Comps
Flynn Restaurant Group is still privately-owned, but its public comps include Wetherspoons, Ohsho Food Service, Cracker Barrel, Domino's Pizza Group, Guangzhou Restaurant Group, Ichibanya, Westlife Foodworld, Biglari Holdings, Kura Sushi and Ziyan Foods.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.9B | $358M | 0.9x | 0.9x | 7.2x | 8.0x | |||
| $751M | $89M | 1.1x | 1.2x | 9.7x | - | |||
| $3.5B | $193M | 0.6x | 0.6x | 10.6x | 15.9x | |||
| $920M | $175M | 1.5x | 1.4x | 7.8x | 7.5x | |||
| $803M | $136M | 1.5x | 1.5x | 9.2x | 9.0x | |||
| $421M | $40M | 2.5x | 2.4x | 26.2x | - | |||
| $271M | $42M | 3.9x | 3.6x | 25.4x | 27.4x | |||
| $395M | $7M | 2.9x | - | 168.7x | - | |||
This data is available for Pro users. Sign up to see all Flynn Restaurant Group competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Flynn Restaurant Group
| When was Flynn Restaurant Group founded? | Flynn Restaurant Group was founded in 1994. |
| Where is Flynn Restaurant Group headquartered? | Flynn Restaurant Group is headquartered in Cleveland, OH, United States. |
| Is Flynn Restaurant Group publicly listed? | No, Flynn Restaurant Group is a private, VC-backed company. |
| What is Flynn Restaurant Group's valuation? | Flynn Restaurant Group was last valued at $1B in its undisclosed-stage round in May 2014. |
| How much funding has Flynn Restaurant Group raised? | Flynn Restaurant Group has raised $300M across 1 funding round. |
| What was Flynn Restaurant Group's last funding round? | Flynn Restaurant Group's last funding round was a $300M undisclosed-stage round in May 2014. |
| Who are Flynn Restaurant Group's investors? | Flynn Restaurant Group's investors include Ontario Teachers' Pension Plan and Greg Flynn. |
| Which companies are comparable to Flynn Restaurant Group? | Companies comparable to Flynn Restaurant Group include Just Salad, Kopi Kenangan, Restaurant365, Wetherspoons, Ohsho Food Service and Hefu Noodle. |
| How many companies has Flynn Restaurant Group acquired? | Flynn Restaurant Group has acquired 4 companies, including Grand Fitness Partners, Wendy's (New Zealand operations), Pizza Hut Australia and NPC International. |
| What was the largest acquisition by Flynn Restaurant Group? | The $553M acquisition of NPC International in March 2021 is the largest acquisition Flynn Restaurant Group has made to date. |
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