The former chairman of PizzaExpress has submitted a bid to acquire part of Pizza Hut UK.

According to the Independent, Luke Johnson, co-founder of private equity firm Risk Capital Partners, is up against at least two other private equity firms to purchase Pizza Hut's restaurants in the United Kingdom.

Parent company Yum! Brands put the business up for sale earlier this year. There are 340 Pizza Hut outlets in the country as part of the deal.

Yum! is looking to sell the units to a master franchisee and will retain the rights to the brand. Pizza Hut's delivery business, which includes more than 320 outlets, is not up for sale.

According to the story, Yum! wants to sell the system and shift its focus to the growing markets of Asia, Africa and Latin America.

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