Yo! Sushi has been sold to private equity firm Quilvest in a deal thought to be worth around £50 million.
Robin Rowland, chief executive of Quilvest, said the firm`s investment would give Yo! Sushi the opprtunity to move ahead quickly with its global expansion plans - with plans afoot to increase its number of outlets from 41 to 100 worldwide by 2012.
Axelle Strain, partner at Quilvest, said: “We are delighted to have acquired such an iconic brand with excellent growth potential.
“Yo! Sushi’s management team have demonstrated a strong track record of profitable growth, and we look forward to working with Robin and his team to build on their successful development.”
Simon Woodroffe, the man who founded the chain in 1997 with a £150,000 investment, is no longer involved in the running of the group but still recieves a royalty of one per cent of UK turnover in perpetuity,