Cinven sells ASK and Zizzi to Bridgepoint for £250m

The deal marks the GP's final exit from Gondola Group, having sold Pizza Express to Hony and Byron to Hutton Collins Partners for a combined total of around £1bn.

The ASK and Zizzi sale brings total returns generated by the £1.3bn sale of Gondola Group to 2.4x money.

The GP took Gondola private in a £900m deal in December 2006. Under the GP's ownership, Pizza Express opened 130 further restaurants in the UK and international operations began in 2010, and the Byron burger chain was launched and developed.

To read our analysis of private equity's relationship with casual dining brands, click here.

Company
ASK Italian and Zizzi operate 109 and 136 restaurants in the UK respectively. The chains have achieved 22% compounded EBITDA growth in the last three years.

People
Peter Catterall is a partner at Cinven; Charles Miller-Jones is principal at the private equity firm.

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• UK / Ireland
• Consumer
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• Bridgepoint