Owner of ASK Italian and Zizzi to auction brands

Private equity firm Cinven is looking to raise up to £200m from the sale of Gondola Group's restaurant brands ASK Italian and Zizzi.

According to The Times, the two brands are being prepared for auction through financial advisory group Rothschild.

ASK currently operates 110 sites and Zizzi (pictured) has 135 restaurants across the UK.

The news comes just months after Gondola sold PizzaExpress to Chinese investor Hony Capital for £900m, which was the largest deal in the restaurant sector for five years.

The company also sold gourmet burger chain Byron to Hutton Collins for £100m last year.