Gondola Group

Gondola Group was a multi-brand restaurant operator active in the United Kingdom and Ireland. Its portfolio covered casual dining, Italian restaurants, hamburgers, and a champagne bar and restaurant. The group is chiefly associated with PizzaExpress, ASK Italian, Zizzi, Byron Hamburgers, and Kettners. Rather than operating as a single consumer-facing restaurant concept, Gondola Group functioned as a portfolio owner and operator. Its brands addressed different segments of the eating-out market: PizzaExpress focused on casual Italian dining; ASK Italian and Zizzi also occupied the Italian restaurant category; Byron Hamburgers specialized in premium casual burgers; and Kettners combined restaurant service with a champagne-bar format at a London location. This portfolio structure gave the group exposure to multiple restaurant occasions while retaining distinct identities for its individual brands. The group was progressively broken up through disposals during the 2013–2015 period. Byron Hamburgers was sold to Hutton Collins in October 2013 for a reported £100 million. Kettners was also sold around 2013 or 2014. PizzaExpress was sold to the China-based private-equity firm Hony Capital in July 2014 for a reported £900 million, equivalent at the time to approximately $1.54 billion. In February 2015, ASK Italian and Zizzi were sold to Bridgepoint Capital for a reported £250 million. These transactions removed the principal restaurant businesses from Gondola Group's portfolio. As a result, the group is treated as a former restaurant operator rather than an active consolidated restaurant brand. The available reference material does not establish a founding year, founder, headquarters address, executive roster, official website, or a continuing corporate structure after the disposals.

Gondola Group was a United Kingdom and Ireland restaurant operator organized around a portfolio of separate dining brands. Its businesses included PizzaExpress, ASK Italian, Zizzi, Byron Hamburgers, and Kettners. The portfolio covered several areas of casual dining rather than presenting one unified restaurant format: PizzaExpress, ASK Italian, and Zizzi operated in Italian dining; Byron Hamburgers served burgers in a premium-casual setting; and Kettners operated as a champagne bar and restaurant at one London site. The available account of Gondola Group's history is dominated by the sale of its constituent businesses. In October 2013, Byron Hamburgers was sold to Hutton Collins for a reported £100 million. Kettners was sold around 2013 or 2014, although the available reference does not provide a precise transaction date or disclosed consideration. These transactions began the dismantling of the group’s multi-brand portfolio. PizzaExpress was sold in July 2014 to Hony Capital, a China-based private-equity firm. The reported value was £900 million, with contemporary conversion to approximately $1.54 billion. PizzaExpress was one of the group’s most prominent assets and its disposal represented a major step in transferring the operating brands away from Gondola Group. The remaining named Italian restaurant businesses, ASK Italian and Zizzi, were sold to Bridgepoint Capital in February 2015 for a reported £250 million. Following these disposals, the businesses that defined Gondola Group had been transferred to separate owners. The group is therefore best understood as a former restaurant portfolio operator whose principal assets were sold over a short period. The reference material does not provide reliable information on the group's founding year, founder, executive leadership, legal structure, headquarters address, or activities after the sales.

• 2015

  ASK Italian and Zizzi sold

  [1]Gondola Groupen.wikipedia.org

  Bridgepoint Capital acquired ASK Italian and Zizzi in February 2015 for a reported £250 million.

• 2014

  PizzaExpress sold to Hony Capital

  [1]Gondola Groupen.wikipedia.org

  PizzaExpress was sold to Hony Capital in July 2014 for a reported £900 million.

• 2013

  Byron Hamburgers sold

  [1]Gondola Groupen.wikipedia.org

  Gondola Group sold Byron Hamburgers to Hutton Collins for a reported £100 million.

• 2013

  Kettners sold

  [1]Gondola Groupen.wikipedia.org

  Kettners, the group's champagne-bar and restaurant operation in London, was sold during the 2013–2014 period.

A portfolio-oriented restaurant operator spanning casual Italian dining, premium casual hamburgers, and a champagne-bar restaurant concept.

• Casual Italian dining

  PizzaExpress

  PizzaExpress was one of Gondola Group's principal Italian casual-dining brands. It formed part of the group's restaurant portfolio until its sale to Hony Capital in July 2014.

• Italian restaurant

  ASK Italian

  ASK Italian was an Italian restaurant business held within Gondola Group's portfolio. Alongside Zizzi, it was sold to Bridgepoint Capital in February 2015.

• Italian restaurant

  Zizzi

  Zizzi was one of Gondola Group's Italian restaurant brands. It remained in the portfolio until its joint sale with ASK Italian to Bridgepoint Capital in February 2015.

• Hamburger restaurant

  Byron Hamburgers

  Byron Hamburgers was the group's burger-focused restaurant business. Gondola Group sold it to Hutton Collins in October 2013 for a reported £100 million.

• Champagne bar and restaurant

  Kettners

  Kettners was a champagne bar and restaurant operated at one London site. It was sold during the 2013–2014 period as Gondola Group disposed of portfolio businesses.

• 2015

  Sale of ASK Italian and ZizziM&A

  Background

  ASK Italian and Zizzi were the remaining named Italian restaurant businesses in Gondola Group's portfolio.

  Action taken

  Gondola Group sold both businesses to Bridgepoint Capital in February 2015.

  Aftermath

  The sale transferred the two brands to Bridgepoint Capital and effectively completed the disposal of Gondola Group's principal restaurant assets.

  Reported transaction value. £250 million (February 2015)

  Source

• 2014

  Sale of PizzaExpressM&A

  Background

  PizzaExpress was a major Italian casual-dining business within Gondola Group.

  Action taken

  Gondola Group sold PizzaExpress to Hony Capital in July 2014.

  Aftermath

  PizzaExpress left the Gondola Group portfolio and became controlled by Hony Capital.

  Reported transaction value. £900 million (July 2014)

  Source

• 2013

  Sale of Byron HamburgersM&A

  Background

  Byron Hamburgers was one of the restaurant businesses held in Gondola Group's multi-brand portfolio.

  Action taken

  Gondola Group sold Byron Hamburgers to Hutton Collins in October 2013.

  Aftermath

  The transaction removed the burger business from Gondola Group's portfolio and began a period of significant disposals.

  Reported transaction value. £100 million (October 2013)

  Source

1. 1Gondola Groupen.wikipedia.org