Pizza Express owner Gondola Holdings has received an approach regarding a possible offer for the group, which values its shares at 415p each.
The restaurant company, which also owns the Zizzi and ASK Central pizza chains, said there was no certainty an offer would be made.
Gondola Holdings listed on the Alternative Investment Market last November at 320p per share.
Following flotation owners TDR Capital and Capricorn Ventures decreased their stake in the company from around 80% to 51.4%.
By Chris Druce