Mon, 30 Jul 2012 | BUSINESS SALE
US food giant Yum Brands is in exclusive talks with turnaround firm Endless, after looking to sell underperforming Pizza Hut since late last year.
Endless is thought to be the last remaining bidder for the 340-strong restaurant chain after private equity firms Risk Capital Partners, managed by Luke Johnson, and Rutland Partners pulled out. They had formed a three-strong shortlist of bidders.
Yum Brands is to retain the rights to the Pizza Hut brand and the delivery service will not be part of the sale.
Revenues at Pizza Hut increased by three per cent in the last six months of 2011 after freshening up its food offering, dining experience and customer service, but the chain has also recorded a loss for the past four years.
Endless purchased Bathstore for £15 million in cash from builders’ merchant Wolseley only a few months ago. It also owns The Works, discount book chain, and school uniform maker Trutex. Endless had generated £220 million to invest into distressed retail and leisure businesses last year.
Yum’s sale of Pizza Hut to Endless is dependent on whether they can come to an agreement on royalty payments.
Previous story - Yum Brands looks to sell Pizza Hut UK
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
This well-established company has a decade-long track record in a growing market and is fully relocatable or can be operated remotely, providing flexibility for the new owner.
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