WASABI SUSHI BENTO acquired by CAPDESIA GROUP
Context
Capdesia led a consortium (including Japan’s largest sushi chain operator, Sushiro Global Holdings, and asset manager Regis Group PLC) to acquire a minority stake in Wasabi. The transaction followed a competitive bidding process where Capdesia outmaneuvered several high-profile firms, including Graphite Capital and Rutland Partners. The primary strategic objective was to stabilize the business following a period of financial pressure and to fund a multi-pronged growth strategy. The capital injection was earmarked for a major refurbishment program of existing UK stores, the expansion of the UK portfolio, and further scaling of the US presence. A crucial element of the deal was a three-way business alliance between Sushiro, Capdesia, and Wasabi, designed to leverage Sushiro’s massive industrial resources and supply chain expertise to accelerate Wasabi’s global expansion. The deal also strengthened Wasabi's balance sheet through fresh funding provided by HSBC, transitioning the brand from a founder-led independent to an institutionally backed international platform.
WASABI SUSHI BENTO, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.0x).
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Target
Wasabi is a prominent UK-based fast-food chain specializing in sushi and bento boxes. Founded in 2003 by Dong Hyun Kim with a single outlet in Embankment, London, the brand transformed the UK's lunch-on-the-go market by offering high-quality, healthy Japanese cuisine at an affordable price point. By May 2019, the group had expanded to 55 sites in the UK and 5 sites in the US (New York). Wasabi operates a lean and scalable model with above-average site-level economics, benefiting from a growing consumer shift toward healthier dining and speed of service. Beyond its physical stores, the brand maintains a successful retail partnership with Sainsbury’s, diversifying its revenue streams into the grocery sector.
Ent. Value
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Multiples
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EV / EBIT
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Historical Financials (GBP)
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REFERENCES
Revenue range: 100M - 200M GBP
EBITDA range: 0M - 5M GBP
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: wasabi sushi bento
Acquirer: capdesia group