OTPP acquired a stake in the restaurant franchise group from private equity firms Goldman Sachs Capital Partners and Weston Presidio.
The fund’s investment, which was made via its Teachers’ Private Capital (TPC) unit, valued FRG at more than $1bn.
Flynn is the first US-based franchise group to exceed $1bn in sales and the first to be valued at over $1bn.
TPC president Jane Rowe said, “FRG has experienced tremendous growth since its founding and we see a number of opportunities for additional expansion.
“(CEO Greg Flynn) and his team have done an outstanding job of delivering strong financial results by fostering a culture of continuous improvement and by delivering consistently enjoyable and affordable dining experience to its guests.”
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