Pizza Express ‘plots £500million SALE’ of high street chain as it launches new fried chicken venture in UK

PIZZA EXPRESS is exploring a sale of its business that could value it at £500million as it plots a brand new fried chicken venture. The iconic diner, which first introduced authentic Italian-style pizza to the UK back in the 1960s, has lined up investors to explore a sale, according to the Financial Times. Pizza Express could go up for sale Credit: Getty Bain Capital and Cyrus Capital Partners, which took control of the company following a restructuring are working with bankers at Rothschild after receiving bids for the firm. Sources told the outlet that the deal could be worth up to £500million in a deal, but warned there was “no certainty a deal would be struck”. Sign up for the Money newsletter Thank you! The beloved diner has managed to turn around its fortunes in recent years, after struggles during the Covid-19 pandemic saw it close 73 sites and hundreds of job losses. It has recently set its sites on the fried chicken market, with plans to bring American fast food chain Houston Hot Chicken to the UK. The brand recently acquired the master franchisee rights to the eatery across Europe. There are expected to be as many as 50 stores set to open within the next three years. It also recently started selling fried chicken at its own restaurants as it looks to appeal to Brits’ growing love of the dish. The latest company results for the firm show sales grew 3.7 per cent in the first quarter of the year to £122million. Most read in Money Comment now