And early on, we’re seeing some of the biggest players make good on those predictions. This week, we’re breaking down Flynn Restaurant Group’s $550 million gamble on Wendy’s and Pizza Hut stores. Walmart is also secretly launching a new health initiative aimed at helping customers make healthier choices. What’s that about?
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Up until last week, Greg Flynn’s $2.3 billion restaurant portfolio included prominent brands like Applebee’s, Taco Bell, Arby’s, and Panera Bread. But there were two obvious categories missing: pizza and burgers.
“They’re the two largest segments in the industry, and we weren’t in either of them,” Flynn told Insider.
Thanks to its deal with NPC International, a now-bankrupt operator, Flynn Restaurant Group now owns more than 1,100 Pizza Hut and Wendy’s locations. Flynn tells our correspondent Nancy Luna that one major factor caused by the pandemic helped push the acquisition over the line.
Walmart’s new health startup, to be developed through its Store No. 8 incubation arm, is expected to help customers make healthier choices while shopping, Insider first reported.
The retailer is actively looking for a CEO who’s worked with clinicians and has a track record of leading health analytics and data science teams to head up the initiative. So far, the venture has no name and remains in the exploratory stage, but is expected to leverage Walmart’s vast amount of customer data.
Of course, Walmart has been no stranger to experimenting with new technologies and platforms of late, including: