The management expertise of South African food and catering group Nandos (NDS) could be used to make UK restaurant operator PizzaExpress more efficient if Nandos’ controlling shareholder Capricorn wrests control of the ailing pizza chain, Capricorn representative Neil Bennett told I-Net Bridge on Wednesday.
“If Capricorn were to buy PizzaExpress, then Nando’s know-how is likely to be applied to improving the chain,” he added.
A consortium led by Capricorn Ventures International and private equity firm TDR Capital has put in an indicative bid for PizzaExpress of 380 pence a share, which trumps the 367 pence bid from former PizzaExpress chairman Luke Johnson.
“These are serious people and they are serious about the bid for PizzaExpress,” Bennett said.
Nandos’ share price ended unchanged at 67 cents on the JSE Securities Exchange South Africa on Wednesday. – I-Net Bridge