Chinese firm buys Pizza Express
The UK Gondola Group who also owns pizza chains Zizzi and ASK Italian, has sold the Pizza Express chain to Chinese private equity firm Hony Capital for around £900m.
The pizza Express chain has 436 restaurants in the UK with another 68 internationally including India, Saudi Arabia and Bali, with 22 of them in China.
Hony Capital plans to expand the brand in both the UK and China. Chief executive John Zhao, said the firm aimed to “leverage our local expertise” to accelerate the restaurant chain’s growth in Asia.
This latest deal follows a trend of British businesses been brought out and taken over by Chinese firms.