Pizza Hut’s U.K. business, which is being sold by Yum! Brands Inc., may be acquired by buyout firm Endless LLP after other bidders dropped out, the Sunday Times reported, without saying where it got the information.
The proposed deal hinges on whether Endless can reach an agreement with Yum on royalty payments, the newspaper said. Other bidders were Risk Capital Partners Ltd. and Rutland Partners LLP, according to the report.
Pizza Hut has 340 restaurants in Britain and employs about 16,000 people, the Times said. Yum took full control of Pizza Hut in Britain in 2006, when it bought Whitbread Plc’s 50 percent stake in the business for about 112 million pounds ($176 million), according to the report.
U.K.-based Endless spokeswoman Lindsey Lamb did not immediately reply to a voice mail left outside normal working hours.