Rutland buys Pizza Hut
Rutland Partners has acquired the UK restaurants business of Pizza Hut UK Ltd from parent company Yum! Brands, making a £20m equity injection into the firm.
The deal is part of a wider £60m refurbishment and restructuring plan for the company.
Yum! will continue to act as franchiser for the firm and plans to grow the company's delivery business in the UK. Yum! will work alongside Rutland to ensure the growth of both arms of the firm.
The GP beat rival interest from Endless – widely reported to be in late-stage talks for the firm – and Risk Capital Partners. The GP trio began circling the firm in July.
Company
Founded in 1973, Pizza Hut currently comprises 333 restaurants across England, Scotland and Wales. The business records more than three million customers per month and employs 10,000 members of staff.
People
Nick Morrill is managing partner of Rutland. Jens Hofina is the managing director of Pizza Hut's dine-in business.
Advisers
Equity - Taylor Wessing, Nick Hazell (Legal).
Vendor - Linklaters (Legal).
Company - Clearwater Corporate Finance, Marc Gillespie, Paddy Bramford (Corporate finance).
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