Herbert Smith Freehills has advised Australian private equity fund manager Allegro Funds on its acquisition of the master franchisee licence for Pizza Hut in Australia from US-based parent company Yum! Brands, global owner of the Pizza Hut brand.

With more than 16,000 restaurants around the world, Pizza Hut is the world’s largest pizza restaurant network. Pizza Hut has had a presence in Australia since the early 1970s, and was one of the first pizza companies to home deliver in the Australia market.

Allegro intends to grow the Pizza Hut brand in Australia, and has assembled a highly experienced management team to implement its growth strategy.

The core Herbert Smith Freehills team was led by partners Mark Currell and Kristin Stammer, who were supported by senior associate Jacob Kahwaji and solicitors Tess Mierendorff and Tim Gonski.

The transaction required wide-ranging specialist expertise from across the firm, including in the areas of intellectual property, franchising, employment and technology. Partner Michael Gonski led the employment aspects, and senior associate Kwok Tang assisted with the transitional technology arrangements.

Herbert Smith Freehills partner Mark Currell said, ‘This is a landmark deal for the Allegro team, and it has been a pleasure working with them on what was a complex cross-border acquisition with multiple stakeholders. The dedication of the Allegro and Herbert Smith Freehills teams through to completion is to be commended”.

Yum! Brands was advised by Allens Linklaters.