Rutland is delighted to announce that they have been shortlisted for two awards in this year’s Unquote British Private Equity Awards; Management Team of the Year and Turnaround Deal of the Year, both for Pizza Hut. These prestigious awards are designed to showcase innovation, resilience and excellence within the UK private equity industry. The shortlist has been drawn up and judged by industry veterans and the final judging is carried out by the industry at large, who can cast their votes now that the shortlist has been announced.
The first of the awards – Management Team of the Year - recognises how the management team works alongside its private equity investor in creating value for the investment. In the case of Pizza Hut Restaurants UK, the management team delivered a stunning turnaround, transforming a failing business, which was in long term decline, into a reinvigorated business with over £17m of EBITDA growth. The business had a tired format and underinvested restaurants, but the team developed and executed an ambitious, brave strategy to reconnect the concept with its customers, deliver an enjoyable and good value experience and to take their 10,000 team members on the journey.
With the help of this outstanding management team, Rutland took the time to understand the business, the situation and the latent potential, acquiring the business after a long transaction process where a completely bespoke franchise centric transaction structure required development. A £60m investment in the restaurant estate delivered with unprecedented levels of rigour around restaurant capex generated excellent paybacks. The turnaround in performance was stunning, transforming the business with a dramatically refreshed concept that brought the business back to its American inspired pizza roots and reconnected it with its customers, which gives rise to the second award Rutland is shortlisted for this year; Turnaround of the Year.
We are proud to be shortlisted for both these prestigious awards. The final judging will be made by our industry peers and voting is open until Wednesday 12 September. To cast your vote, click here.