Pizza Hut UK business sold to investment company Rutland Partners
By John Reynolds, marketingmagazine.co.uk, Monday, 12 November 2012 09:30AM
Pizza Hut's restaurants in the UK have been sold by US company Yum! to Rutland Partners, an investment company that specialises in turnarounds.
Rutland Partners, which did not disclose financial details of the deal, will operate the 330 Pizza Hut restaurants under a franchise agreement with Yum!.
Jens Hofma, Pizza Hut's UK and Ireland managing director, and the senior team, are thought to be staying on with the business.
Rutland Partners will invest £20m into the business, as part of a broader £60m investment in refurbishment and restructuring of the Pizza Hut group. Rutland Partners has pledged to invest £40m of its cash flow over the next five years.
Pizza Hut was put up for sale last year, after it struggled to compete with PizzaExpress and Domino's Pizza in the UK.
Yum! will receive royalties from Rutland and the two parties will work together closely to develop the Pizza Hut brand in Britain.
Yum!, which also owns the KFC and Taco Bell brands, will keep the Pizza Hut delivery business in the UK.
The company was once partly owned by Whitbread, which sold its 50% share in the UK group to Yum! for £112m in 2006.Follow @johnreynolds10
This article was first published on marketingmagazine.co.uk
- Senior Category Manager Ball & Hoolahan £50,000 + car or c/a, West Midlands
- Marketing Controller Ball & Hoolahan £85,000 + Car/Car Allowance, South East England
- Recruitment Consultant Blue Skies Marketing Recruitment £25000 - £35000 per annum, Stratfordupon Avon
- Senior Account Manager Gemini Search £32000 - £36000 per annum, London
- Freelance Creative Blue Skies Marketing Recruitment £150 - £350 per annum, London
- Adam & Eve/DDB wins 2014 IPA Effectiveness Awards Grand Prix
- Enjoyed getting an hour back on Sunday? You'll get years back if you stop smoking, says charity
- Tiffany & Co hires MEC for $100m global media
- Mattessons Fridge Raiders campaign delivers AI robot to YouTube gamer
- HSBC launches Anyone's Game golf campaign
- Facebook and Airbnb sign up to D&AD New Blood