Pizza Hut UK franchisee approaches potential bidders
HWS is owned by a combination of Pricoa and the company's management, led by chief executive Jens Hofma
Pizza Hut UK’s biggest franchisee has reportedly begun approaching potential bidders for the pizza chain, according to Sky News.
Heart With Smart (HWS), which operates roughly 140 Pizza Hut dine-in restaurants, has instructed advisers to find a buyer or raise tens of millions of pounds in external funding.
City sources said this weekend that the process had got under way in recent days and was expected to result in a transaction taking place in the next few months.
It is claimed that HWS is looking for bidders in response to the Autumn Budget announced last month.
Despite this, one source suggested that as well as the talks with external third parties, it remained possible that a financing solution could be reached with its existing backers.
HWS is owned by a combination of Pricoa and the company’s management, led by chief executive Jens Hofma.
They led a management buyout reportedly worth £100m in 2018, with the business having previously been owned by Rutland Partners, a private equity firm.
