Piper invests in Yard Sale Pizza
Context
The private equity firm Piper signs a strategic stake acquisition in Yard Sale Pizza, structuring this growth capital injection as the sixth active investment finalized directly from its seventh institutional fund. Announced in April 2025, the transaction formally establishes a partnership between the incoming financial sponsor and the target's executive management team, keeping co-founders Johnnie Tate and Nick Buckland in their leadership roles alongside Chairman Paul Campbell. At the time of the transaction, Yard Sale Pizza demonstrated robust financial momentum, recording an annual turnover of for the fiscal year ending April 2025. The strategic rationale driving Piper's investment focuses on deploying programmatic capital to accelerate the target's physical expansion beyond its historical footprint, targeting the precise inauguration of 40 new physical shops within a five-year horizon. Following a spatial analysis project executed in collaboration with the consultancy CACI, the acquiring board identified a structural potential for more than 500 viable delivery locations across the United Kingdom. Furthermore, a defined portion of the injected equity is strictly allocated toward targeted technology upgrades designed to streamline customer ordering interfaces and optimize the localized dispatch network. To oversee this national rollout phase, Piper Associate Partner Yasha Estraikh officially joins the Yard Sale Pizza board of directors as a non-executive member. The financial architecture of this middle-market transaction secures immediate liquidity to fund physical site acquisitions while actively sustaining the brand's established cultural collaborations with external partners. Following the completion of this definitive share purchase agreement and structural reorganization, former marketing director Sam Briggs transitions into a non-executive advisory role within the newly capitalized entity.
-> Deep-dive in Retail & Consumer market trends
Target
Founded in 2013 in the London neighbourhood of Clapton by Johnnie Tate and Nick Buckland, Yard Sale Pizza operates as a specialized restaurant and delivery brand. The business model coordinates a physical network of 14 proprietary shops distributed across East, North, and South London, including a recently inaugurated location in Earlsfield. To execute its hyper-local delivery strategy, the culinary enterprise employs an in-house team of localized e-bike delivery drivers rather than relying on third-party aggregators. The production infrastructure focuses strictly on handmade, large-format 18-inch pizzas engineered specifically for transit, guaranteeing an average delivery time of 24 minutes to the end consumer. Beyond its proprietary storefronts, the food service operator maintains an active partnership network with more than 160 independent pubs and bars across the capital, allowing patrons to order food directly to these partner venues. The executive committee steering the operational expansion includes Chief Marketing Officer Sarah Hiraki and Chair Paul Campbell.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (GBP)
Similar deals in Hospitality & Leisure
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 08/2025 | L’OSTERIA | PIZZA PILGRIMS | UNITED KINGDOM | Restaurants / Chains |
| 08/2025 | FREEMAN SPOGLI | PHILZ COFFEE | UNITED STATES | Restaurants / Chains |
| 04/2025 | LEONARD GREEN & PARTNERS | CRUNCH FITNESS | UNITED STATES | Hospitality |
| 03/2025 | ADIA | EUROPEAN CAMPING GROUP (ECG) | FRANCE | Hotels & Accommodation |
| 03/2025 | QUATTROR / ANTHILIA CAPITAL PARTNERS | CIGIERRE | ITALY | Restaurants / Chains |
| 02/2025 | TIP - TAMBURI INVESTMENT PARTNERI | ALPITOUR | ITALY | Travel |
| 02/2025 | FORTRESS INVESTMENT GROUP | LOUNGERS | UNITED KINGDOM | Restaurants / Chains |
| 01/2025 | FRENCH FOOD CAPITAL / CEREA PARTNERS / SOFIPROTEOL | BOULANGERIES SOPHIE LEBREUILLY | FRANCE | Restaurants / Chains |
| 11/2024 | Piper / Cool Japan Fund | Inside Travel Group | UNITED KINGDOM | Tour Operators |
| 10/2024 | PUREGYM | Blink Fitness | UNITED STATES | Leisure Facilities |
REFERENCES
Revenue range: 5M - 25M GBP
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Yard Sale Pizza by Piper are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: yard sale pizza
Acquirer: piper