Pizza Express


Hony Capital, the Chinese private equity fund, has acquired Pizza Express from Gondola Group, backed by Cinven, in a deal worth £900m.

Jamieson Corporate Finance advised CEO Richard Hodgson and his management team on the terms of their deal with Hony Capital.

Hony Capital, founded in 2003, is sponsored by the Lenovo Group as well as Chinese and global institutional investors. The company has $7bn under management, with the latest fund having a capital commitment of $2.4bn.

Pizza Express operates 436 restaurants in the UK along with 68 internationally, including 22 in China. Expansion in Asia is a key part of the growth strategy and Hony Capital will leverage local expertise to accelerate the restaurant chain’s growth in Asia.

Stuart Coventry and Johan Aksel Bergendorff of Jamieson Corporate Finance advised the management team of Pizza Express.