British arm of Pizza Hut is on the verge of being sold to debt investor Pricoa for £100m

by XPRESS, 18 December 2017

City sources said the sale of the pizza chain’s UK franchise could be announced in the next few weeks, though there are still hurdles to overcome before the proposed takeover is completed.

Rutland Partners, a UK-based private equity firm, is understood to be in advanced talks to sell the business to Pricoa, a debt investor owned by the American insurer Prudential Financial.

The takeover would mark a bumper return for Rutland Partners, which in 2012 paid just £1 to rescue Pizza Hut from the brink of collapse under its previous owner, Yum! Brands.

Since then, Rutland has spent £60m refurbishing the British franchise of the pizza chain. The UK operation was first put up for sale early last year.

Rutland came under fire in April over its former ownership of the poultry farmer Bernard Matthews.

The farmer’s £75m pension scheme was passed to the Pension Protection Fund after Rutland sold it in a controversial pre-pack administration deal.

Rutland Partners declined to comment.