Hony: China's new pizza man

Beijing-based Hony Capital is buying Britain's iconic PizzaExpress for about £900 million.

Hony: China's new pizza man
Chinese takeaway

Beijing-based private equity firm Hony Capital has agreed to buy British restaurant chain PizzaExpress for about 900 million $1.54 billion, the latest example of China’s appetite for iconic western brand names.

Hony bought PizzaExpress from London-based private equity fund Cinven, which had taken the restaurant chain private in 2007 for 1.34 billion $1.77 billion.

China’s rapidly expanding middle class is demanding higher-quality, safer and a wider variety...

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