Rutland's Pizza Hut buy

A private-equity firm has acquired the restaurant business of Pizza Hut UK and vowed to invest £60m in turning round its performance.

Rutland Partners snapped up the 330-strong chain for an undisclosed sum from Yum Brands.

Rutland's managing partner Nick Morrill said: "The management team has put a turnaround plan in place that has already led to much improved performance over the past 12 months."