Restaurant chain Pizza Express may return to the stock market less than two years after it was taken private by private equity firms TDR Capital and Capricorn Ventures, according to a weekend newspaper report.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“TDR is understood to be looking to appoint an investment bank to advise on strategic options for the business, including a flotation or sale,” the Sunday Telegraph newspaper said. The paper said that a “beauty parade of banks,” had been held earlier this year and three investment advisers were understood to have been shortlisted.
Pizza express was taken private for £278 million (US$523 million). TDR had closed down some unprofitable restaurants at PizzaExpress which has 320 outlets. “PizzaExpress is now understood to be delivering double-digit percentage rises in like-for-like sales,” the paper said.
