CITYA.M. reports that Zizzi and Ask Italian sales increased by 9.6% in the last six months – proof that the timing of their acquisition by Bridgepoint was excellent.
Ask Italian and Zizzi run 137 and 110 restaurants across the UK and Bridgepoint – which already owns Pret A Manger – bought their portfolio in January from private equity firm Cinven for £250m. This completed Cinven’s exit from from Gondola Group – it had previously sold both PizzaExpress and Byron.
In the half-year to 11 January 2015, Zizzi and Ask Italian recorded £119m of sales, up 9.6 per cent year on year. And underlying earnings grew strongly by 21.1 per cent to £17.6m.
The group plans to open eight outlets in the second half of the year, having opened just two in the first half.