Primary Exits Investment in YO! Sushi
Primary has announced the sale of YO! Sushi Limited, an operator of innovative conveyor belt Japanese restaurants offering “sophisticated fast food”, to Quilvest Private Equity. Quilvest is a subsidiary of Quilvest SA, a global financial institution, with over $10 billion in assets under management.
Primary backed the £10 million management buy-out of YO! Sushi in August 2003 supporting Robin Rowland, the CEO, and his management team. Simon Woodroffe, the founder of the business, retained a 22% stake in the business.
Over the past 5 years, YO! Sushi has rolled out its flexible format in the UK through in-store concessions, railway stations and airports, retail/leisure developments and city centre locations and now has 32 restaurants in the UK. The business also expanded overseas through a network of franchise partners and has 10 outlets in the Gulf, Ireland, Russia and Malaysia. Based in London, the company now serves in excess of 3 million customers a year and employs over 900 people.
Contact Jackie Adams for more information
Tel: +44(0) 20 7920 4800