Italian restaurant chain Prezzo has been acquired by the privately held investment firm, Cain International, for an undisclosed fee.
A self-proclaimed “long-term investor”, Cain’s existing portfolio in the hospitality industry includes Swingers, Maslow’s Group, and The AllBright.
While the sector is currently enduring a difficult period, the investment firm said that Prezzo has outperformed the industry within the last 12 months, especially during the period between the March and October lockdowns.
Jonathan Goldstein, CEO at Cain, said: “Prezzo has a clear vision for how to best serve its customers and communities.
“I am confident that the combination of Cain’s operational and financial expertise, the exceptional management team led by Karen [Jones], and the commitment of Prezzo’s entire workforce will enable the business to realise its full potential.”
Prezzo has been running under the operations of executive chair Karen Jones since 2018, who hopes to turn the chain into the “UK’s favourite Italian”.
Speaking of the partnership with Cain, she said: “Together, we think our shared belief in great hospitality and entrepreneurial approach combined with a restaurant business based in the high streets of the UK, represents a powerful blend for the times we live in.”