Mon, 30 Jul 2012 | BUSINESS SALE
US food giant Yum Brands is in exclusive talks with turnaround firm Endless, after looking to sell underperforming Pizza Hut since late last year.
Endless is thought to be the last remaining bidder for the 340-strong restaurant chain after private equity firms Risk Capital Partners, managed by Luke Johnson, and Rutland Partners pulled out. They had formed a three-strong shortlist of bidders.
Yum Brands is to retain the rights to the Pizza Hut brand and the delivery service will not be part of the sale.
Revenues at Pizza Hut increased by three per cent in the last six months of 2011 after freshening up its food offering, dining experience and customer service, but the chain has also recorded a loss for the past four years.
Endless purchased Bathstore for £15 million in cash from builders’ merchant Wolseley only a few months ago. It also owns The Works, discount book chain, and school uniform maker Trutex. Endless had generated £220 million to invest into distressed retail and leisure businesses last year.
Yum’s sale of Pizza Hut to Endless is dependent on whether they can come to an agreement on royalty payments.
Previous story - Yum Brands looks to sell Pizza Hut UK
Charming village freehouse with guest accommodation available in the picturesque setting of Bude, Cornwall, offering a unique opportunity for hospitality entrepreneurs.
FREEHOLD
Opportunity to acquire a prominently located Cotswolds inn in Chipping Norton, ideally positioned at the village entrance.
FREEHOLD
An exciting opportunity to acquire a well-located and popular roadside pub in the charming town of Wareham, Dorset, presenting a fantastic prospect for investors or hospitality enthusiasts
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.