Taylor Wessing has advised longstanding client Rutland Partners on the sale of Pizza Hut Restaurants UK to its existing management team led by Jens Hofma (CEO). The disposal concludes an extremely successful investment for Rutland Fund II.
Rutland first acquired Pizza Hut Restaurants UK (excluding the Delivery Business) in November 2012 from the global franchisor, Yum! Brands.
Post-completion of the sale, Pizza Hut Restaurants will be owned and run by its current management team with financial support from Pricoa. As part of the financing, management will become majority shareholders and Rutland will retain an investment.
Emma Danks, partner and head of the private equity group at Taylor Wessing, who led the transaction said:
"In a market where casual dining is becoming ever more competitive, it is great to see Rutland complete on their fifth successful transaction in the past twelve months, and Taylor Wessing very much enjoyed working with the Rutland team to achieve this exit. Pizza Hut is an exceptional brand in the casual dining sector in UK and we wish the team there every success going forward."
Nick Morrill, Managing Partner at Rutland, said:
"Our investment in Pizza Hut Restaurants has been exciting and highly fulfilling in a crowded sector. The investment has been typical of a Rutland deal and strong evidence to our investors of our ability to deploy a weight of capital in complex circumstances and drive attractive returns."
Tristan Craddock, Partner at Rutland, added:
"We would like to thank Emma and the rest of the Taylor Wessing team for the excellent support they provided on the sale of the business and throughout our investment."
This is the fourth major transaction that the firm has advised Rutland on since 2017. The firm has previously acted for Rutland on its Fund III investments into Omar Group and Armitage Pet Care, and on its Fund II sale of Brandon Hire.
The Taylor Wessing team was led by Emma Danks, supported by partner Martin Yells, senior associates Jonny Bethell and Kyle Adams, and associates Nick Karangizi and Alex Walker.
