Allens advises Yum! on Pizza Hut sale in Australia

Allens has advised Yum! Brands Inc. and Yum! Restaurants Australia on the sale of Pizza Hut in Australia.

The deal represents one of the first master franchise arrangements in the world for Yum! Brands Inc., an international leader in fast food. Pizza Hut's Australian network of 260 sub-franchisee stores will operate under the master franchise arrangements.

Yum! sold the Pizza Hut Australian business assets to private equity firm Allegro Funds. The deal involved the creation of a sale vehicle, acquired by Allegro, which has become the Australian Pizza Hut master franchisee under long term franchising arrangements with related entities of Yum!. Allens led the development of all material transaction documents.

'We're delighted to have worked with the team at Yum! on the sale of the Pizza Hut business in Australia,' said lead corporate partner Vijay Cugati.

'This transaction is another example of Allens advising global businesses on their activities in Australia and is a reflection of the expertise and knowledge that we bring to cross-border deals,' he said.

'The franchising elements of the deal added an additional layer of complexity, and we are very pleased to have assisted Yum! in developing one of their first master franchise arrangements,' said lead franchising partner Andrew Wiseman.

Ends