Gondola Holdings, the owner of Pizza Express, Ask and Zizzi Italian restaurant chains, has confirmed that it has received an approach worth around £560m.

The bidder, which has not been named, has offered the company 415p in cash per share.

In a Stock Exchange statement, Gondola said that there “can be no certainty that an offer will be made” and that an announcement would be made “when appropriate”.

Private equity firms TDR Capital and Capricorn Ventures International have a combined stake of 48 per cent in the company – which owns more than 500 restaurants in the UK – and according to The Times, some industry commentators have speculated that TDR Capital could be behind the bid. Details: www.gondolaholdings.co.uk