Hony Capital Buys Pizza Express for USD 1.54 Billion – Was It Worth the Price?

Hony Capital Ltd, the private equity arm of the Lenovo Group, announced earlier this week the acquisition of Pizza Express, a very well known and established restaurant chain based in the United Kingdom.  This was a very bold move and somewhat unexpected.  The final purchase price was somewhere in the vicinity of 10x current EBITDA. […]