Zensho Holdings, a food service company in Japan by sales, acquired The Snowfox Group, a multi-channel and international Japanese food business.
The transaction is valued at $621 million. Mayfair Equity Partners, a dedicated consumer and technology investor with over £2 billion in assets under management, will fully exit Snowfox. The terms of transaction are to be confirmed and completion remains subject to customary closing conditions.
With the deal, Snowfox’s diversified international offering will support Zensho’s growth outside of its home market of Japan.
Led by CEO Richard Hodgson, The Snowfox Group specialises in the preparation of Japanese cuisines with a focus on sushi, bento and poke. Its four distinct brands include Snowfox, Bento, Taiko and YO! in North America and the United Kingdom. The Group provides consumers with Japanese food and operates approximately 3,000 chef-operated sushi kiosks and other restaurants in North America and the UK, as well as being a sushi manufacturer and wholesaler. Snowfox’s leadership team, including Hodgson, will remain with the business to work closely with Zensho’s Senior Management.
Founded in 1982, Zensho is a Japanese food group developing a wide range of food businesses and expanding globally. The company operates a diverse portfolio of businesses in Japan, including the beef bowl restaurant Sukiya, the 100 yen sushi restaurant Hama-sushi, and the family restaurant Coco’s, as well as retail and nursing care businesses. Outside of Japan, the company also operates Sukiya, Hama-sushi mainly in East Asia, Advanced Fresh Concepts (AFC) mainly in the US, and The Chicken Rice Shop (TCRS), which operates halal-certified chicken rice shops in Malaysia.
FinSMEs
13/06/2023