Bridgepoint buys ASK and Zizzi for £250m

Gondola said following the deal, ASK and Zizzi’s management team, led by chief executive Steve Holmes and chief financial officer Jim Pickworth, will remain with the business. Harvey Smyth, chief executive of Gondola, will also remain as non-executive chairman.

Zizzi and ASK currently operate 136 and 109 restaurants, respectively, across the UK.

Smyth said: “ASK and Zizzi have made significant progress over the last few years. Both brands have strong positions in the UK casual dining market and exciting prospects for the future. The teams across ASK and Zizzi continue to do a fantastic job and they leave Gondola with our thanks and best wishes for the future.

“Following the sale of Byron in November 2013 and PizzaExpress in August 2014, this marks the final transaction in the break up of Gondola Group.”

Holmes added: “We are delighted by the acquisition of ASK and Zizzi by Bridgepoint.  This is a very exciting time for the business as we look to continue our strong trading momentum and further develop our footprint in the UK.  We are looking forward to working with Bridgepoint to fulfil our ambitious growth plans.”

The deal is expected to be completed by January.