NPC Completes $801 Million Sale to Flynn, Wendy’s

While business headlines in Kansas City this week focused on the sale of publicly traded Kansas City Southern Railway, the private-business side saw another corporate titan take its last bow. San Francisco-based Flynn Restaurant Group closed on its $553 million acquisition of the lion’s share of NPC International’s Pizza Hut and Wendy’s restaurants. Wendy’s itself paid nearly $240 million to acquire the remaining assets.

NPC, based in Leawood, had been the largest franchisee of both Pizza Hut and Wendy’s–and the second-largest restaurant franchisee overall in the U.S.–with more than 1,300 restaurants in 30 states. Last year, it ranked No. 17 on the Ingram’s 100, a compilation of the Kansas City region’s largest private companies.

The sale had been approved by the U.S. Bankruptcy Court in January.

Jon Weber, CEO of the two restaurant divisions for NPC, offered something of a corporate eulogy as he thanked those responsible for building the company, then ushering it through this transaction. 

“I’d like to offer my sincere thanks to our employees across our shared services, Pizza Hut and Wendy’s teams for their incredible hard work, dedication and support, especially during the past year,” Weber said in a prepared statement. “I have been so proud of the way our entire NPC team rose to the occasion time after time to keep our operations running smoothly and to continue serving our guests with excellence during a restructuring process in the midst of a global pandemic.”

He also thanked NPC’s management team and its board of directors “for their outstanding leadership and many contributions during this time. Finally, I’d also like to thank our team of capable advisors for their expert guidance and counsel, which along with the steadfast commitment and support of our creditors, was instrumental to our ability to successfully and efficiently complete the Chapter 11 process. Looking ahead, I’m confident that our Pizza Hut and Wendy’s teams are in capable hands with their new owners. I wish them great success with both brands.”

Posted March 26, 2021