Chinese private equity firm acquired 245 restaurants in UK for $392 million
Chinese private equity firm Hony Capital acquired 245 Ask Italian and Zizzi restaurants in UK for $392 million.
The European private equity firm Cinven is the seller. Hony Capital had already acquired PizzaExpress from Cinven in July 2014 for approximately GBP 900 million. In the UK, Zizzi and ASK operate 136 and 109 restaurants respectively. (Hony Capital, with Liu Chuanzhi as Chairman and John Zhao as CEO, is founded in 2003 and has $7 billion asset under management).
Hony Capital is listed in the Chinese Investors Directory with the code OR35
More details follows
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