The bosses from Pizza Hut have confirmed a management buyout of the business, backed by investment firm Pricoa Capital Group.
While the terms of the deal have not been disclosed, the deal has a reported worth of £100 million.
Yum! Restaurants sold Pizza Hut’s UK restaurants to private equity firm Rutland Partners in October 2012, reportedly for a token £1.
Chief executive Jens Hofma has led the buyout in a move that was first reported a year ago. Rutland Partners, the private equity owners of Pizza Hut UK, initially called in advisers two years ago.
“As we take control of the next stage, our mission remains unchanged: to be the most loved place to eat and work,” commented Hofma.
In the financial year to 4 December 2016 Pizza Hut increased turnover to £232.7 million, up from £225.3 million in the year before.