L’Osteria, a Germany-based restaurant group specialising in Italian cuisine, has acquired a majority interest in Neapolitan pizza chain Pizza Pilgrims.
Financial specifics of the transaction remain undisclosed.
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Pizza Pilgrims currently operates 26 locations throughout the UK.
Established in Nuremberg in 1999, L’Osteria has expanded to more than 200 locations across ten European nations. It offers 45cm pizzas and pasta made in-house, all within a modern dining environment, as reported by Hospitality and Catering News.
L’Osteria is backed by McWin, a private investment company that focuses on the foodservice sector and has investments in hospitality brands, including Gail’s and Big Mamma Group.
This move is part of L’Osteria’s strategy to pursue growth opportunities, particularly in international markets, and further expansion in the UK.
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By GlobalDataL’Osteria CEO Jacek Trybuchowski stated: “Pizza Pilgrims is a strong, successful brand with a clear Italian profile and an excellent team – both of our brands combine a high-quality standard as well as the passion for Italian cuisine and the joy of Italy.”
Pizza Pilgrims is expected to benefit from L’Osteria’s established European network and expertise.
Both brands will operate independently, with their respective management teams overseeing international development.
The partnership offers synergies while maintaining the distinct identities of each brand.
Gavin Smith and Sophie Gilchriest will continue to lead Pizza Pilgrims, with Smith as CEO and Gilchriest becoming CFO.
Pizza Pilgrims co-founders Thom and James Elliot will remain actively involved in the company’s operations.
Thom and James Elliot stated: “We are so excited about our partnership with L’Osteria – and the opportunity it presents for the business that we love and our wonderful teams.
“We have constantly striven to make Pizza Pilgrims a better business every day since we started out on our market stall in Soho – and we would like to thank our longstanding board and all of our outgoing investors for their support and shared wisdom over that time.”
