Wed, 07 May 2014 | BUSINESS SALE
Robin Rowland, Yo! Sushi’s executive chairman, has confirmed to Sky News Business Live that advisers have been brought in to assist in a £120 million sale.
Vanessa Hall fills Mr Rowland‘s recently exited 14-year post as chief executive, and she has been tasked with preparing the restaurant chain for a sale.
Ms Hall, who joined the company in September last year as chief operating officer, was responsible for over 170 restaurants in her previous role at M&B.
Rowland confirmed to Sky News that stockbroker Canaccord Genuity has been hired as the adviser for the upcoming disposal.
Yo! Sushi’s parent company Quilvest purchased the eatery in 2008 for £51 million, so would pocket a hefty profit if the asking price of £120 million can be achieved.
In 2013 Yo! Sushi brought in earnings of £9.2 million before interest, and with an increase of 4.6 per cent in like-for-like sales.
The Japanese restaurant chain started out with four central London outlets in 2000 and has since grown to 75 internationally with 1,650 staff. Its conveyor belt system delivers sushi to customers sitting on benches. It has been received well by critics, with AA Gill of the Sunday Times saying that it was “the best sushi in London”.
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