PizzaExpress on the menu for buyers with a £1bn price tag

PizzaExpress is reportedly on the menu for potential buyers for a whopping £1bn.

The chain’s parent company Gondola Holdings, which also counts ASK Italian and Byron among its other assets, is on the look out for private equity firms interested in buying the chain.

Cinven, Gondola’s owner, has appointed Goldman Sachs for the deal.

Founded in 1965, PizzaExpress operates from 500 sites in 12 countries. Once run by entrepreneur Luke Johnson, the chain is set to open 200 new restaurants in markets like China and India in the next five years.

Gondola reported a profit of £112.2m last year, a 6% rise on 2012.

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