Gondola Holdings

Gondola Group Limited

Company Profile

Publication Date: 18 Mar 2010

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Gondola Group Limited

TABLE OF CONTENTS

Company Overview..............................................................................................4

Key Facts...............................................................................................................4

Business Description...........................................................................................5

History...................................................................................................................6

Key Employees.....................................................................................................7

Key Employee Biographies..................................................................................8

Major Products and Services............................................................................10

Top Competitors.................................................................................................11

Company View.....................................................................................................12

Locations and Subsidiaries...............................................................................13


Gondola Group LimitedTABLE OF CONTENTS

COMPANY OVERVIEW

Gondola Group, through its subsidiaries, is engaged in the operation of restaurants. The groupoperates about 600 restaurants under PizzaExpress, ASK and Zizzi brands. The group primarilyoperates in the UK and Ireland. It is headquartered in London, the UK and employs about 13,400people.

The group recorded revenues of £509.3 million ($823.4 million) during the finacial year ended June2009 (FY2009), an increase of 10.3% over FY2008. The operating profit of the group was £45.7million ($73.9 million) during FY2009, an increase of 2.7% over FY2008.The net loss was £55 million($88.9 million) in FY2009, as compared to the net loss of £56.7 million ($91.7 million) in FY2008.

KEY FACTS

Gondola Group LimitedHead Office5th Floor2 Balcombe StreetLondon NW1 6NWGBR

44 1895 263122Phone

Fax

http://www.gondolagroup.co.ukWeb Address

509.3Revenue / turnover(GBP Mn)

JuneFinancial Year End

13,307Employees


Gondola Group LimitedCompany Overview

BUSINESS DESCRIPTION

Gondola Group, through its subsidiaries, is engaged in the operation of restaurants. Cinven, themanager and advisor of the Cinven Funds, holds controlling interest in the group.The group operatesabout 600 restaurants in the UK and Ireland.

The group operates through PizzaExpress, ASK, Zizzi, Milano, BYRON and Kettners brands.

PizzaExpress is a chain of about 369 restaurants. It offers a range of pizzas, pasta, salads, desserts,and drinks such as wine, sparkling, beer, spirits, and soft drinks.

ASK is an informal Italian chain of about 120 restaurants. It offers antipasti, pizza and calzone,insalata, pasta and risotto, al forno, salads, desserts, hot drinks, spirits, and soft drinks.

Zizzi is an Italian chain of about 102 restaurants. The restaurants offer breads and antipasti, pastaand risotto, pizza and calzone, carne and pesce, insalate, desserts, sides, and drinks.

Milano is a PizzaExpress brand in Ireland. BYRON is a chain of hamburger restaurants. Kettners isan iconic Soho champagne bar and restaurant.

The group’s other subsidiaries include PizzaExpress (Restaurants), Bookcash Trading, PizzaExpress(Wholesale), Agenbite, PizzaExpress Merchandising, PizzaExpress (Jersey), Al Rollo, ASK Central,Gondola Finance 1, Gondola Finance 2, Gondola Acquisitions, Gondola Holdings, GondolaInvestments, Gondola Finance, and Riposte.


Gondola Group LimitedBusiness Description

HISTORY

Gondola Group traces back its history with the listing of Gondola Holdings on the London StockExchange in 2005.

In 2006, Paternoster Acquisitions, a company formed at the direction of funds managed and advisedby Cinven Limited, acquired Gondola Holdings and renamed it to Gondola Group. In the same year,the group acquired PizzaExpress and ASK restaurants.

Chris Woodhouse was appointed as the Non Executive Chairman, Charles Miller-Jones was appointedas a Non Executive Director, and Nick Carter was appointed as the Finance Director at the groupin 2007.

In 2008, the group opened 34 new restaurant outlets.

The group opened 36 new restaurants during 2009.

Note: No further relevant news item available about Gondola Group at the time of publication of theprofile.


Gondola Group LimitedHistory

KEY EMPLOYEES

BoardJob TitleName

Executive BoardChief Executive OfficerHarvey Smyth

Executive BoardFinance DirectorNick Carter

Non Executive BoardNon Executive ChairmanChris Woodhouse

Non Executive BoardNon Executive DirectorYagnish Chotai

Non Executive BoardNon Executive DirectorPeter Catterall

Non Executive BoardNon Executive DirectorCharles Miller Jones


Gondola Group LimitedKey Employees

KEY EMPLOYEE BIOGRAPHIES

Harvey Smyth

Board: Executive BoardJob Title: Chief Executive OfficerSince: 2006Age: 41

Mr. Smyth has been the Chief Executive Officer at Gondola Group since 2006. He joined PizzaExpressin 2003 as its Chief Executive Officer. He was previously Deputy Chief Executive Officer and UKManaging Director of Pret A Manger. Mr. Smyth has a degree in biochemistry from Bristol University,and is also a qualified Chartered Accountant.

Nick Carter

Board: Executive BoardJob Title: Finance DirectorSince: 2007Age: 42

Mr. Carter has been the Finance Director at Gondola Group since 2007. Prior to this, he was FinanceDirector at Halfords Group and Birthdays Group and held a number of finance and commercial rolesat Superdrug Stores and Kingfisher. Mr. Carter qualified as a Chartered Accountant at KPMG.

Chris Woodhouse

Board: Non Executive BoardJob Title: Non Executive ChairmanSince: 2007Age: 48

Mr. Woodhouse has been the Non Executive Chairman at Gondola Group since 2007. He servesas the Finance Director of Debenhams. He was previously Deputy Chairman of Halfords Group andCommercial Director and Deputy Chief Executive at Homebase Group. He is a former FinanceDirector of Birthdays Group and Superdrug Stores. He is a Fellow of the Institute of CharteredAccountants in England and Wales and is an Associate of the Association of Corporate Treasurers.

Yagnish Chotai

Board: Non Executive BoardJob Title: Non Executive Director


Gondola Group LimitedKey Employee Biographies

Since: 2006Age: 50

Mr. Chotai has been a Non Executive Director at Gondola Group since 2006. He is a Partner withCinven, having joined them in 1996.

Peter Catterall

Board: Non Executive BoardJob Title: Non Executive DirectorSince: 2006Age: 40

Mr. Catterall has been a Non Executive Director at Gondala Group since 2006. He is a Partner withCinven, having joined them in 1997.

Charles Miller Jones

Board: Non Executive BoardJob Title: Non Executive DirectorSince: 2007Age: 28

Mr. Jones has been a Non Executive Director at Gondala Group since 2007. He is a Principal withCinven, having joined them in 2005 and is a Member of the Consumer sector team.


Gondola Group LimitedKey Employee Biographies

MAJOR PRODUCTS AND SERVICES

Gondola Group is engaged in the operation of restaurants. The group's key services and brands include the following:

Services:

Restaurant services

Brands:

ASKBYRONKettnersMilanoPizzaExpressZizzi


Gondola Group LimitedMajor Products and Services

TOP COMPETITORS

The following companies are the major competitors of Gondola Group Limited

McDonald's CorporationWhitbread PLCPizza Hut (UK) LimitedDomino's Pizza, Inc.Doctor's Associates IncThe Restaurant Group PlcTragus Holdings LtdWagamama Group Ltd


Gondola Group LimitedTop Competitors

COMPANY VIEW

A statement by Chris Woodhouse, Non Executive Chairman of the Board of Gondola Group is givenbelow. The statement has been taken from the group’s 2009 annual report.

The current year has seen us grow both sales and profits through our continued focus on deliveringexcellence to our customers and by investment in promotional and brand building activity. This hasstimulated interest in our brands and generated significant increase in customer numbers. All ourindividual brands have developed during the period under review with the management teams ofASK and Zizzi in particular being strengthened. I am very pleased to introduce Helen Jones, whojoined us in August 2009 as the Managing Director of Zizzi.

PizzaExpress continued to build on its strong performance of the previous year and this year hasenhanced its brand strength with innovative new products combined with successful marketingstrategies.

The New Development Group has successfully opened four additional Byron restaurants this yearand this outstanding brand is now gaining kudos as a high quality casual dining offer, with momentumto continue its development through further openings. The team has also delivered a majorrefurbishment and relaunch of Kettners.

Our new openings programme across the Group has been sustained, with a total of 36 newrestaurants being opened this year, an increase of two over the previous year. Performance of newrestaurants has been above expectations and we will continue to open new restaurants in greatlocations in the future, taking advantage of the scaling back in this area by some of our competitors.

Despite the tough trading conditions experienced, particularly in the latter part of 2008, our continuingprogress across all areas is reflected in the Group’s strong trading results for the year. The resultswere particularly strong in the second half of the year as our promotional activity gained momentum.

Our financial performance shows that Gondola’s portfolio of brands has been able to offer anoutstanding value for money proposition, which has enabled us to deliver robust results in difficulteconomic circumstances.

Whilst we expect economic conditions to remain challenging in the forthcoming year, we continueto view the prospects for the Group very positively, and believe that our excellent brands, led byforward thinking management teams and supported by high quality centralised support functionswill continue to deliver growth.

Finally, I would like to thank our employees for their continuing contribution to our businesses. Theirdedication and enthusiasm is what the customer experience is all about and allows our brands tostand out from the pack.


Gondola Group LimitedCompany View

LOCATIONS AND SUBSIDIARIESHead Office

Gondola Group Limited5th Floor2 Balcombe StreetLondon NW1 6NWGBRP:44 1895 263122http://www.gondolagroup.co.uk

Other Locations and Subsidiaries

PizzaExpress (Restaurants) LimitedPizzaExpress LimitedGBRGBR

PizzaExpress (Wholesale) LimitedBookcash Trading LimitedGBRGBR

PizzaExpress Merchandising LimitedAgenbite LimitedGBRIRL

Al Rollo LimitedPizzaExpress (Jersey) LimitedGBRJersey

GBR

ASK Restaurants LimitedASK Central LimitedGBRGBR

Gondola Finance 2 LimitedGondola Finance 1 LimitedGBRGBR

Gondola Holdings LimitedGondola Acquisitions LimitedGBRGBR

Gondola Finance LimitedGondola Investments LimitedGBRGBR


Gondola Group LimitedLocations and Subsidiaries

Documents

Gondola Holdings