Chinese private equity firm to buy Britain's Pizza Express chain. Friday, 18th July 2014 Source : External sources
Chinese private equity firm Hony Capital has struck a deal with Gondola Group to buy Britain's Pizza Express chain for about 900 million pounds, the companies said last weekend. Hony's interest comes two months after Pizza Express expanded its empire of 500 restaurants to include its first Beijing-based pizzeria. The group already runs 12 restaurants in Hong Kong and nine in Shanghai. It has 436 in Britain. Private equity fund Cinven bought Pizza Express franchise owner Gondola in a public to private transaction in 2007 for 1.3 billion euros. Gondola, a prominent player in the UK casual dining sector, also owns ASK, Zizzi and Kettner's, according to Cinven's website. "This transaction is the largest in the European restaurant sector in the past five years," Gondola and Hony said in a joint statement.
Related News (Click title to read article)
Latest News (Click title to read article)
Latest Articles (Click title to read)
Most Read Articles (Click title to read)
~ Important Notice ~ Articles appearing on 4Hoteliers contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.
© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved. You can read more about 4Hoteliers and our company here Use of this web site is subject to our of service and terms & conditions policy privacy