find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Aussie fund takes slice of iconic fast food brand

Aussie fund takes slice of iconic fast food brand

The global owner of Pizza Hut has sold its Australian business assets to local private equity firm Allegro Funds.

Firms: Herbert Smith Freehills (Allegro Funds); Allens (Yum! Brands Inc. and Yum! Restaurants Australia)

Deal: Allegro Funds has acquired the master franchisee licence for Pizza Hut in Australia.

Value: Undisclosed

Area: M&A

Key players: The Herbert Smith Freehills team advising Allegro was led by partners Mark Currell and Kristin Stammer. Senior associate Jacob Kahwaji and solicitors Tess Mierendorff and Tim Gonski assisted with the deal.

HSF partner Michael Gonski led the employment aspects, and senior associate Kwok Tang assisted with the transitional technology arrangements.

Allens led the development of all material transaction documents for Yum! Brands. Franchising partner Andrew Wiseman and corporate partner Vijay Cugati led the Allens team.  

Deal significance:

This deal is one of the first master franchise arrangements in the world for Yum! Brands. Pizza Hut's Australian network of 260 sub-franchisee stores will operate under the master franchise arrangements.

The deal was facilitated by a sale vehicle that was acquired by Allegro, which has become the Australian Pizza Hut master franchisee under long-term franchising arrangements with related entities of Yum!.

According to a statement released by HSF, Allegro “has assembled a highly experienced management team” to grow the Pizza Hut brand in Australia.

The brand first landed in Australia in the early 70s, and Pizza Hut was one of the country’s first companies to offer home delivery.

Pizza Hut is one of the largest pizza restaurant networks in the world and has over 16,000 restaurants globally.

HSF partner Mark Currell, who led the team advising Allegro, described the matter as a “complex cross-border acquisition with multiple stakeholders”. The transaction involved specialist expertise in the areas of intellectual property, franchising, employment and technology.

“The dedication of the Allegro and Herbert Smith Freehills teams through to completion is to be commended,” Mr Currell said.

Allens partner Andrew Wiseman said the franchising elements in particular added another “layer of complexity”.

“We are very pleased to have assisted Yum! in developing one of their first master franchise arrangements,” Mr Wiseman said.

L-R: HSF partner Mark Currell and Allens partner Vijay Cugati

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Aussie fund takes slice of iconic fast food brand
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
Lawyers warn against mandatory sentencing measures amid political jeers
Mandatory sentencing has become a topic for politicians on both sides of Federal Parliament to jostl...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...