Jack Wills owner eyes £100m bid for Yo! Sushi
The owner of Jack Wills, is reportedly in talks to acquire the UK’s biggest Japanese restaurant group Yo! Sushi.
Inflexion Private Equity has emerged the frontrunner to snap up the business, according to Sky News. A deal between Inflexion and the restaurant’s current owner Quilvest has not been agreed though the report claims the private equity group has been given a period of exclusivity to make it happen.
The business has reportedly beaten stiff competition from rival bidders, which are said to have included 3i, Morgan Stanley Private Equity and Mistral Equity Partners, a New York-based fund.
Yo! Sushi is looking for a buyer that can fund its expansion. It recently opened its first two restaurants in the US where it plans to launch around 50 over the next six years.
The business was formed in 1997 by Simon Woodroffe, who was one of the original “dragons” om the BBC’s Dragons Den show.