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
- Head of UX & Digital Design Director MCG Associates tax free competitive package, Dubai (Emirate) (AE)
- Retention Marketing Manager - Central London - Perm Ninesharp £35000 - £40000 per annum + Great Benefits, London
- Brand Guardian Network Career Consultants £50000 - £60000 per annum, London
- Head of Marketing Network Career Consultants £50000 - £58000 per annum, London
- Head of Marketing and Communications Alexandra Palace Trading £40,000 + bonus + benefits, London (Greater)
- Facebook IQ reveals marketing to millennials is flawed
- Should brands be held to their straplines?
- Vizeum retains £14m AB InBev in the UK and adds European markets
- Breast Cancer Campaign crowd-sources videos for 'wear it pink' campaign
- Sir Martin Sorrell labels Omnicom CFO exit 'bizarre'
- Guardian joins forces with Telegraph for media planning tool