Prezzo, the Italian restaurant chain which currently has 245 locations, has agreed to a £303.7m takeover by private equity group TPG.
The deal will offer a return of 945% to shareholders who invested in Prezzo at its Aim listing in 2002, such as its founders, the Kaye family, which owns 48.5% of the business.
TPG, which manages £41bn of assets, plans to use Prezzo as a platform to build up the restaurant business, either through expansion or acquisitions.
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