YO! Sushi Exploring Sale Options
Yo! Sushi's executive chairman Robin Rowland confirms to Sky News Business Live that the restaurant chain has appointed advisors for a sale.
From the four restaurants the Japanese chain had in central London in 2000, YO! Sushi now has 1,650 members of staff and a total of 75 restaurants internationally.
Newly appointed chief executive, Vanessa Hall, has a mandate of preparing the eatery for a sale of £120m.
She takes over from Robin Rowland, chief executive at the sushi company for 14 years, who has now become executive chairman. He confirmed to Sky's Dharshini David that stockbrokers Canaccord Genuity have been appointed as advisors for the future sale.
If a buyer is found at that price tag, it would mean a significant profit for the restaurant's parent group, Quilvest, which took over YO! Sushi in 2008 in a £51m acquisition.
Vanessa Hall joined the company in September 2013 as chief operating officer. In her previous role at M&B, she was responsible for over 170 restaurants.
Last year, YO! Sushi delivered earnings before interest of £9.2m, with like-for-like sales for the year up 4.6%.