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Pizza Express sells to Chinese firm for £900m

The Pizza Express restaurant chain, which owns Milano in Ireland, has been sold to Chinese firm Hony Capital for £900 million.

With over 500 restaurants – 12 Milano’s in Ireland, 436 Pizza Express restaurants in Britain and 68 internationally – 12 restaurants in Hong Kong and nine in Shanghai, as well as outlets in India, Saudi Arabia and Bali – employing more than 9,000 workers. Hony aims to open another 200 restaurants in the UK.

The chain was owned by the Gondola Group, the market leader in the UK casual dining sector, which confirmed the sale to Chinese private equity firm Hony.