China’s Hony Capital to Buy PizzaExpress
Sunday, July 13, 2014
<WSJ> Chinese private-equity firm Hony Capital Ltd. agreed to buy restaurant chain PizzaExpress for £900 million ($1.54 billion), among the largest European restaurant deals in the past five years.
The seller is London-based private-equity firm Cinven Ltd., which owns Gondola Group Ltd., the operator of Zizzi and other restaurant brands as well as PizzaExpress.
PizzaExpress operates in more than a dozen countries, including in the Middle East. It has several branches in Beijing, Shanghai and Hong Kong.
