Rutland Partners, the specialist restructuring investor and Yum! Brands, global owners of the Pizza Hut brand, announce that on 9 November they completed a deal whereby Rutland acquires Pizza Hut’s UK Dine-In restaurant business.
In the deal, Rutland Partners has acquired the share capital of Pizza Hut UK Ltd, the company which owns 330 Dine-In restaurants and will operate them under a long term franchise agreement from Yum!. Rutland will invest £20 million in support of a broad £60 million refurbishment and restructuring programme of the business. Yum! will continue to act as Franchisor for the Dine-In business and receive royalties from Rutland whilst also growing the Pizza Hut delivery business in the UK through franchise and equity new unit development.
Jens Hofma announces that Pizza Hut UK plans to accelerate its refurbishment programme next year by investing in a further 90 restaurants, after seeing like-for-like sales at invested sites grow by 20 to 25% on average.
It comes as Pizza Hut reports that it turned a pre-exceptional operating loss of £4.4m into a profit of £1.7m in the year to 1 December 2013; operating profit has grown 18% since 2011, Hofma pointed out.
Kaythryn Austin, chief people and marketing officer for Pizza Hut Restaurants, has won the HR Director of the Year award at the HR Excellence Awards 2016 held at the Park Lane Hilton Hotel in London. The winner was chosen following a poll of HR magazine readers.
Kathryn said she was 'amazed and very pleased' to win the award. She continued: "I would like to thank my team, as this was all about teamwork. We are a consumer business, so we are looking into some potentially difficult economic times. We've got to focus on providing a great guest experience and getting people to come back to us time and time again."