Pizza Hut’s UK business might be about to be eaten up by a US investment fund.
The pizza restaurant chain, which is currently owned by private equity firm Rutland Partners, has reportedly attracted interest from Pricoa.
The Sunday Times has reported that Pricoa, which is owned by US insurer Prudential Financial, is in advanced discussions over a deal that could value Pizza Hut at around £100m.
Pizza Hut was founded in Wichita, Kansas, in 1958 and arrived in the UK for the first time in 1973.
Pizza Hut UK’s Companies House accounts show that it operated 272 restaurants at the end of 2015.
Rutland put Pizza Hut up for sale in February last February, hiring PwC to find a buyer. The investor bought the UK franchise business in 2012 from Yum Brands and set out a £60m revamp.
Rutland Partners declined to comment. Pricoa has been asked for comment.