Prezzo (restaurant)

Brava Trading Limited
Prezzo Italian
FormerlyPrezzo Trading Limited (2021-2026)
TypePrivate
IndustryRestaurant
FoundedNovember 2000 (2000-11)
Headquarters
Woodford Green, Greater London
,
United Kingdom
Key people
[1]
RevenueIncrease £59.6m GBP (FY 2011) [2]
Increase £7.3m GBP (FY 2011) [2]
ParentPrezzo Holdings
(Cain)
Websiteprezzo.co.uk

Brava Trading Limited,[3] trading as Prezzo Italian ("price" in Italian), is a restaurant chain serving mostly Italian cuisine in the United Kingdom and Ireland. The first restaurant opened on New Oxford Street, London in November 2000. As of January 2019, there were more than 180 branches across the country, following many closures in 2018. It is part of Prezzo Holdings. The chain is currently owned by Cain.[4]

History

Prezzo restaurant in Cheam Village, Greater London
Prezzo Restaurant in Albert Street, Harrogate
Prezzo restaurant in Lincolnshire

The first Prezzo Italian restaurant was opened in central London by Jonathan Kaye, the company's chief executive, in 2000.[5] As of January 2019, there were more than 180 branches in the UK. Prezzo Italian opened its first restaurant in Ireland in February 2016. Prezzo commonly converts old buildings of architectural value from their old purposes into Prezzo Italian restaurants;[6] examples include an old cinema in Beaconsfield, Buckinghamshire.[7]

The first owner of the Prezzo Italian business was Jonathan Kaye. In 2008, Jonathan hired cousins Adam Kaye and Samuel Kaye (sons of Philip Kaye) to join Prezzo plc's board of directors.[8] Adam and Samuel founded rival chains ASK Italian and Zizzi.

In 2011, Aldo Zilli designed four pizzas which were added to the Prezzo Italian menu under the name "V.I.Pizzas".[9]

Private equity firm TPG took over the Prezzo Italian business in 2015 when Jonathan Kaye moved to a non-executive role. In June 2015, Dirk Eller was appointed interim chief executive. Jon Hendry-Pickup joined Prezzo as chief executive in July 2016.[10]

In February 2018, Prezzo Italian confirmed it planned to close 100 of its 300 restaurants and secure a company voluntary arrangement as part of a rescue plan for the chain.[11].[12]

In April 2023, Prezzo Italian announced the closure of 46 restaurants, approximately one-third of its UK estate, The closures were part of a broader strategic review to focus on more profitable sites.[13]

In 2025, Prezzo unveiled a refreshed menu and brand identity, renaming itself "Prezzo Italian", for the name for the first time in its history. Subsequently, in August and September 2025, the company opened new restaurants in Edinburgh and Rugby, marking its first new openings since 2020. [14] Prezzo plans to refurbish 20 restaurants by the end of the year, with a further 40 scheduled for 2026, featuring a new design aesthetic with softer palettes, upgraded furniture, tableware, and artwork.[15]

[16]In 2026 a kids club subscription was launched.

Financial history

In February 2006, when Prezzo Italian owned 73 restaurants, it initiated a major expansion of the business by dropping the price per share. This successfully raised £7.125 million to fund further expansion. Net cash at the half-year was £9.4 million. During the first six months of 2006 Prezzo Italian opened 12 new restaurants.[17] In the year ending December 2006, Prezzo showed a 45% growth in turnover to £54.2m, and pre-tax profit grew from £6.1m in the previous year to £8.7m.[18] In April 2008 Prezzo Italian saw sales grow again to £70.1m and pre-tax profit rose 25% to £13.6m.[19]

The chain continued to grow steadily, reporting a 17% rise in profits to £7.3million (GBP) in September 2011.[20] In 2011 the company continued to expand into new restaurant locations, reportedly aiming for a 10% increase in restaurant numbers in 2012.[21]

See also

References

  1. ↑ McAllister, James (21 September 2022). "Dame Karen Jones to step down as Prezzo executive chair". Restaurant. Archived from the original on 2 September 2024. Retrieved 17 November 2023.
  2. 1 2 Carlton, Michael. "Financial Performance: 2011 Interim Report" (PDF). Prezzo PLC. Archived from the original (PDF) on 14 May 2012. Retrieved 9 November 2011.
  3. ↑ "PREZZO TRADING LIMITED overview - Find and update company information - GOV.UK". Companies House. 21 January 2021. Archived from the original on 3 August 2023. Retrieved 3 August 2023.
  4. ↑ "Italian restaurant chain Prezzo sold to real estate group Cain". Financial Times. 2 December 2020. Archived from the original on 20 November 2022. Retrieved 20 November 2022.
  5. ↑ "Prezzo, Prezzo token in Clubcard". Tesco PLC. Retrieved 9 November 2011.
  6. ↑ "Prezzo Restaurants - Our Story". Prezzo PLC. Archived from the original on 17 October 2011. Retrieved 9 November 2011.
  7. ↑ "Restaurant plans for old cinema in Beaconsfield approved". Bucks Free Press. 7 November 2011. Archived from the original on 2 September 2024. Retrieved 9 November 2011.
  8. ↑ Druce, Chris (19 December 2008). "Adam and Sam Kaye join Prezzo board". Caterer and Hotelkeeper. Retrieved 29 November 2011.{{cite web}}: CS1 maint: deprecated archival service (link)
  9. ↑ "Aldo Zilli creates pizza range for Prezzo". BigHospitality.com. 11 March 2011. Archived from the original on 31 August 2017. Retrieved 9 November 2011.
  10. ↑ "Prezzo appoints former Travelodge boss as new chief executive". The Caterer. 31 May 2016. Archived from the original on 3 March 2018. Retrieved 3 March 2018.
  11. ↑ Davies, Rob (28 February 2018). "Prezzo restaurant chain to close a third of its UK branches". The Guardian. Archived from the original on 2 September 2024. Retrieved 28 February 2018.
  12. ↑ "Prezzo to close 94 restaurants in rescue bid". BBC News. 2 March 2018. Archived from the original on 29 September 2018. Retrieved 21 July 2018.
  13. ↑ Jolly, Jasper (24 April 2023). "Prezzo to shut 46 UK restaurants, putting 810 jobs at risk". The Guardian. ISSN 0261-3077. Retrieved 3 October 2025.
  14. ↑ "Prezzo to rebrand as Prezzo Italian after 25 years". The Caterer. Retrieved 3 October 2025.
  15. ↑ "Prezzo Italian set to open its first new venue in five years". www.caterlyst.com. 8 August 2025. Retrieved 3 October 2025.
  16. ↑ Hospitality, Discovering (10 September 2025). "Prezzo Italian Unveils New Employee Benefits to Reward Excellence and Celebrate Italian Culture". DH Magazine. Retrieved 3 October 2025.
  17. ↑ Druce, Chris (21 February 2006). "Prezzo raise more cash to fund expansion". Caterer and Hotelkeeper. Retrieved 1 December 2011.{{cite web}}: CS1 maint: deprecated archival service (link)
  18. ↑ Kühn, Kerstin (12 April 2007). "Profits soar at Prezzo". Caterer and Hotelkeeper. Retrieved 1 December 2011.{{cite web}}: CS1 maint: deprecated archival service (link)
  19. ↑ Walton, Christopher (9 April 2008). "Prezzo restaurant expansion pays off". Caterer and Hotelkeeper. Retrieved 1 December 2011.{{cite web}}: CS1 maint: deprecated archival service (link)
  20. ↑ Whiterow, Philip (7 September 2011). "Pizza chain Prezzo reports jump in profits". The Independent. London. Archived from the original on 22 December 2015. Retrieved 15 November 2011.
  21. ↑ Negus, Richard. "On Market From Fleurets". Fleurets. Archived from the original on 25 April 2012. Retrieved 15 November 2011.
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