Pizza Hut franchise for sale for rumoured £150m
The Pizza Hut chain has been put up for sale by its private equity owner Rutland Partners, with rumours suggesting it could sell for £150m.
The move comes four years after the fund bought the UK franchise business from Yum! Brands in 2012, and began a £60m revamp of all sites, beginning with Crawley, West Sussex, in 2013. Over half of the 275 sites have now been refurbished.
Advisers at PwC are now helping to find a buyer, reported City AM today (15 February). The purported sales figure has been put at a suggested £150m, given that the company's latest full-year accounts show that it made operating profits of £3.3m in 2014, up from £1.7m in 2013.
This in itself has been seen as proof of the company's successful new direction, with like-for-like sales having grown by 6.2% in the year to 29 November 2015.
The news comes amid a period of upheaval for the industry including the recent sale of a host of dining chains, including the £250m sale of Côte in July last year, and the £100m sale of Argentine steakhouse group Gaucho in January.
Refurbishments drive 6.2% increase in like-for-like sales at Pizza Hut >>
Gaucho sale rumoured >>
Côte set for £250m sale >>
*Are you looking for a new role? See all the current restaurant vacancies available with The Caterer* Jobs >>
Latest video from The Caterer
