Gondola Holdings, the casual dining group that operates Pizza Express, ASK and Zizzi, has announced that it has received an approach regarding a possible offer for the company of 415p in cash per share. This would value the company at £560m, and with debts of approximately £350m, give it an enterprise value of around £900m. However, the company has said there can be no certainty that any offer will be made. Mark Brumby, an analyst at Oriel Securities, said that the possible approach had “most likely come from a private equity firm”. TDR Capital currently holds the largest stake in the company with 32.34%, with CV1 holding 19.05%, and FIL, 8.82%. Although unlikely, industry insiders have also suggested that a large US dining group could also be behind the possible offer. News of the possible offer saw shares in Gondola rise by 33.75p, an increase of 9.32%, to 395.75p. The group, which earlier this month reportedly had an approach for Giraffe, the casual dining chain, rejected, operates 518 restaurants in the UK and Ireland. Gondola said it had plans to open 300 more outlets for its three core brands in the UK and Ireland. The company also operates a number of outlets under three fledgling concepts - Jo Schmo’s, its burger bar concept, Al Rollo, it’s pizza-by-the-metre restaurant concept, and Lupa, its pizza delivery brand. A fourth concept, Leamington Bar & Grill, a more upmarket restaurant offer, opened earlier this year. The company reported a 6.5% rise in ebitda to £47.7m for the 28 weeks to 8 January. It also reported a 4% increase in like-for-like sales for the year to 2 July. Total restaurant sales for the same period grew by 7%.