Italian Restaurant Chain Prezzo Sold to Real Estate Group Cain

Prezzo, the Italian restaurant group, is being sold to real estate company Cain International, the latest in a series of casual dining chains to change ownership as the pandemic piles more pressure on an industry struggling with high debt and too much competition, the Financial Times reported. Cain, a privately held, London-based group that has invested more than $5.9bn in real estate debt and equity since it was founded in 2014, will buy the company as a going concern, it said in a statement on Wednesday. “We firmly believe that strong hospitality and leisure brands with disciplined leadership will thrive in a post-Covid landscape,” said Jonathan Goldstein, chief executive of Cain. The company said it would not reveal how much it had paid for the business. Read more