Wagamama up for sale at £250m

By Chris Druce

- Last updated on GMT

Related tags: United kingdom, Wagamama

Early this year Wagamama launched its own iPhone app
Early this year Wagamama launched its own iPhone app
Noodle chain Wagamama is up for sale for as much as £250m, according to reports

Noodle chain Wagamama is up for sale for as much as £250m, according to reports.

Lion Capital, the company’s private equity backer, is believed to have appointed investment bank Rothschild to advise it on a sale of its majority stake in the business.

Lion Capital bought into the firm in 2005 buying a stake of around £100m from private equity firm Graphite Capital, who company founder Alan Yau sold to in 1998.

Plans to float Wagamama on the market in 2007 were put on hold as the credit crunch gathered momentum.

Yau set up Wagamama in 1991 and the chain has blossomed since with 66 outlets in the UK and 39 in Europe. In the UK it employs around 2,300 staff.

It is headed by chief executive Steve Hill.

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