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The restaurant chain Pizza Express has been sold to a Chinese firm for around £900m, following "considerable interest" in the business.

The UK Gondola Group confirmed the sale to private equity firm Hony Capital.

There are 436 Pizza Express restaurants in the UK along with 68 internationally - including 22 in China - employing more than 9,000 workers.

Chief executive Richard Hodgson said expansion in Asia was a "key part" of future growth strategy.

The sale was a "very positive development at an exciting time for the business", he said.

The Gondola Group - which also owns UK pizza chains Zizzi and ASK Italian - ran 12 Pizza Express restaurants in Hong Kong and nine in Shanghai.

The sale comes as the first Pizza Express restaurant was opened in the Chinese capital Beijing earlier this year.

In a joint statement released by the two firms, Hony Capital said it planned to expand the brand both in the UK and in China.

So each shop is worth £1.785m

Seems they are going to have to sell an awful lot of pizza.

Edited by interestrateripoff
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Recirculation of foreign earnings, transforming trade surplus into outright ownership.

We get poorer by the day. As per sig.

Its that yes but from what I have seen a lot of the money is leveraged up back home

Uk guy buys Chinese item > surplus > leveraged to hell + corruption > returned to west to avoid authorities

I saw a report which stated that China has really just opened up the credit taps since the start of the recession and added a debt to it financial system of the same magnitude of which the USA has taken its whole history to rack up.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10611931/The-15-trillion-shadow-over-Chinese-banks.html

This is going to be biblical when this blows up as the entire world has kicked the can down the road.

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Its that yes but from what I have seen a lot of the money is leveraged up back home

Uk guy buys Chinese item > surplus > leveraged to hell + corruption > returned to west to avoid authorities

I saw a report which stated that China has really just opened up the credit taps since the start of the recession and added a debt to it financial system of the same magnitude of which the USA has taken its whole history to rack up.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10611931/The-15-trillion-shadow-over-Chinese-banks.html

This is going to be biblical when this blows up as the entire world has kicked the can down the road.

Maybe. When one country is gaming the system to a certain extent you need to match the gaming, After all you could print trillions and just buy up every asset in the world if other countries let you.

Of course everything in this country is for sale, anybody welcome, that is how the banks get to play with other peoples/dictators/crims money, by keepignthe free for all going.

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....anyone who pays £10 for a pizza that would cost 75p all in if made at home deserves all that they get......one of the biggest mark up jobs there is.....happy days. :)

To be fair, they used to use decent quality ingredients, all sourced from Italy. Slowly they started to replace them all with frozen crap (pepperoni from South America, FFS!), leading to the tasteless nonsense they now serve up!

Can make better in the house...

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To be fair, they used to use decent quality ingredients, all sourced from Italy. Slowly they started to replace them all with frozen crap (pepperoni from South America, FFS!), leading to the tasteless nonsense they now serve up!

Can make better in the house...

see it, taste it and I don't believe it...I know you are right....they must think their customers are either thick or desperate. ;)

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For cheese on toast, what ever next...

£900m! I guess the real value of money is less than I thought and shrinking quicker by the day.

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http://www.housepricecrash.co.uk/forum/index.php?app=forums&module=post&section=post&do=new_post&f=22

So each shop is worth £1.785m

Seems they are going to have to sell an awful lot of pizza.

Back of a fag packet calculation that sounds about right/possible a bit cheap?

Each restaurant has between 50->100 tables that tend to be full at peak times. Average seating for about 100 people? not busy all the time but I would guess 5 hours per day at close to full capacity. Average head price £20? Turnover of £10,000 per day? a 75% profit margin? £7,500 profit per day? 436 restaurants takes this to 3.27m profit per day? 360 days per year, 1.17 Billion profit per year?

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I knew of someone invited to a Dominoes Pizza party arranged by some large shareholders (probably founders). The party was for hundreds, and thousands was spent.

Looking at the chart of DOM, the price was pennies, and it got up to £7 a share.

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