Mayfair Equity Partners has sold the Snowfox Group, a multi-channel and international Japanese food business, whose UK and US brands include YO! Sushi, Snowfox, Bento, and Taiko, to Zensho Holdings – a Japanese food service company – in a deal valued at $621m.
Mayfair, a dedicated consumer and technology private equity investor with over £2bn in assets under management, will fully exit Snowfox. The terms of transaction are to be confirmed and completion remains subject to customary closing conditions.
Post-closing, Snowfox’s leadership team, including CEO Richard Hodgson, will remain with the business to work closely with Zensho’s senior management.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Zensho operates a diverse portfolio of businesses in Japan, including the beef bowl restaurant Sukiya, the 100 yen sushi restaurant Hama-sushi, and the family restaurant Coco’s, as well as retail and nursing care businesses.
Outside of Japan, the company also operates Sukiya, Hama-sushi mainly in East Asia, Advanced Fresh Concepts (AFC) mainly in the US, and The Chicken Rice Shop (TCRS), which operates halal-certified chicken rice shops in Malaysia.
Source: Private Equity Wire
Can’t stop reading? Read more
EQT eyes US expansion as Conni Jonsson signals buying opportunities amid market pullback
EQT eyes US expansion as Conni Jonsson signals buying opportunities amid market pullback EQT,...
Cerberus expands Polish banking presence with acquisition of Citi’s retail arm
Cerberus expands Polish banking presence with acquisition of Citi’s retail arm Cerberus Capital...
UBS sells $11bn O’Connor platform to Cantor Fitzgerald in major hedge fund reshuffle
UBS sells $11bn O’Connor platform to Cantor Fitzgerald in major hedge fund reshuffle Cantor...