Pizza Hut UK set to be sold to management

by XPRESS, 20 April 2018

Sky News has reported that the 260-strong UK arm of Pizza Hut will be sold in the next few days to a buy-out team led by its chief executive, even as rival casual dining chains face painful restructurings or bankruptcy.

The transaction will involve chief executive Jens Hofma, who has run Pizza Hut UK since 2009, being backed by debt provided by Pricoa, a US-based institution.

It is expected to be signed as early as today, more than two years after current owner Rutland Partners hired advisers to run an auction. An announcement is likely to be made early next week, Sky reported.

Hofma and his team have presided over a modernisation programme involving the refurbishment of the bulk of its estate, and are said to be confident in the chain’s future.

Article credit: Propel info