Pizza Hut confirms £100m MBO

Pizza Hut have confirmed a management buyout (MBO) of the business, backed by investment firm Pricoa Capital Group, in a deal reportedly worth of £100m.

Yum! Restaurants sold Pizza Hut’s UK restaurants to private equity firm Rutland Partners in October 2012, for a token £1.

Chief executive Jens Hofma (pictured) has led the buyout in a move that was first reported 12 months ago. He said, “As we take control of the next stage, our mission remains unchanged: to be the most loved place to eat and work,'

In the latest annual results to 4 December 2016, Pizza Hut saw turnover rise to £232.7m, up from £225.3m in the previous year.