Zensho, the Japanese restaurant group, have acquired The Snowfox Group for £494m (US$621m).
The acquisition will see Mayfair Equity Partners, the investor with a £2bn asset portfolio, will exit Snowfox.
Snowfox operate 100 YO! restaurants and kiosks across UK, in addition to owning Taiko, the sushi manufacturer for Sainsbury’s and Waitrose (UK Supermarket chains).
Zensho, across Japan, own and operate restaurants that specialise in gyudon, udon, and hamburger steaks, as well as conveyor-belt sushi restaurants and coffee shops. The experience in sushi restaurants aligns with the current Snowfox brands and operations.
One of Zensho’s exisiting brands is Sukiya, who have, in May 2023, have 1,943 stores.
The existing Snowfox leadership team will remain in place and will work in collaboration with Zensho’s management team.
Another recent acquisition in the F&B industry was Pizza Hut Australia being purchased.
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