MORE WORLD NEWS
News from the region's first prime-time newscast. You'll find it First On Fox!
Chinese equity firm shows appetite in UK, buys UK's Pizza Express restaurant chain
Reported by: Associated Press
Reported: Sunday, July 13, 2014 10:53 AM EDT
Pizza Express, one of Britain's best-known chain restaurants, has been sold to a Chinese private equity firm for about 900 million pounds
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.