Chinese firm buys UK's Pizza Express chain - 13 WTHR Indianapolis

Chinese firm buys UK's Pizza Express chain

Posted: Updated:
  • NationalMore>>

  • Ohio State under shadow again, this time with band

    Ohio State under shadow again, this time with band

    Saturday, July 26 2014 12:45 AM EDT2014-07-26 04:45:52 GMT
    The Ohio State marching band is moving forward without its director; a day after he was fired they're performing with the Columbus Symphony in what's often considered the band's unofficial season kickoff.More >>
    Having forced out a beloved football coach and watched its president retire after a series of verbal gaffes, Ohio State University again finds itself grabbing headlines with the firing of a celebrated marching band...More >>
  • Baby dies after being left in hot car in Kansas

    Baby dies after being left in hot car in Kansas

    Friday, July 25 2014 11:56 PM EDT2014-07-26 03:56:40 GMT
    Police have arrested the foster parent of a 10-month-old girl who died after being left inside a hot car in Wichita, Kansas.More >>
    A 10-month-old Kansas girl died after being strapped for more than two hours inside a sweltering car, and police arrested a foster parent who said he'd forgotten about her until something on TV jogged his memory, an...More >>
  • Judge dismisses lawsuit over Amelia Earhart search

    Judge dismisses lawsuit over Amelia Earhart search

    Friday, July 25 2014 11:23 PM EDT2014-07-26 03:23:25 GMT
    A federal judge has dismissed a Wyoming man's lawsuit claiming a group secretly found the missing airplane of aviation pioneer Amelia Earhart in the South Pacific but kept it quiet so it could continue to raise...More >>
    A federal judge on Friday dismissed a Wyoming man's claims that an aircraft recovery group secretly found wreckage of aviation pioneer Amelia Earhart's missing airplane in the South Pacific but kept it quiet so it...More >>

LONDON (AP) - Pizza Express, one of Britain's best-known chain restaurants, has been sold to a Chinese private equity firm for about 900 million pounds ($1.5 billion.)

Gondola Group, which also owns other British restaurant chains, said it agreed to the sale with Hony Capital on Saturday in the latest example of Chinese investment in European companies.

Pizza Express has 436 restaurants in the U.K. along with 68 internationally, including 22 in China.

The chain's chief executive, Richard Hodgson, said Asia is a key part of the chain's growth strategy and Hony's expertise in the region will be valuable.

Hony said it aimed to capitalize on its local expertise to help the chain grow in the Chinese market.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow