May 23, 2024

Buyers of the Asian Sticks ‘n’ Sushi chain wanted: a daily menu

Asia series Stick’n’Sushi Looks like it will be sold. Mag Invest Equity, a longtime investor in the company, has reportedly engaged advisors to review options to sell their 80 percent stake. Sticks ‘n’ Sushi operates restaurants in Copenhagen, Great Britain and Berlin.

The Copenhagen-based private equity firm, which first invested in Sticks ‘n’ Sushi in early 2013, is said to be working with advisors from Deloitte to oversee the operation. The investment company currently has a stake of about 80 percent in the restaurant group, which is managed by Andreas Carlson

Founded in Denmark in 1994 by brothers Jens and Kim Rabeke and Tor Andersen, the company currently operates 12 restaurants in Copenhagen, ten in the UK and three in Berlin. Last December, the company celebrated its tenth anniversary in the UK by opening its tenth restaurant in Westfield White City – its eighth restaurant in London, along with regional locations in Cambridge and Oxford.

In January, the company announced that the next phase of Sticks ‘n’ Sushi’s growth would be to open more restaurants in Greater London and plan additional delivery-only kitchens in strategic areas.

In Berlin, Sticks ‘n’ Sushi had its third restaurant in the German capital in October 2022 and has indicated that it also wants to expand into Spree.

At the end of 2021, the company reported full-year UK sales of £57m. For the year ending 30 June 2022, the company reported sales in the UK of £44 million. In 2013, Maj Invest acquired a 49 percent stake in the company while the founders remained majority owners. At the time, Maj Invest was pursuing the goal of expanding the chain’s international presence. In 2019, the company’s founders sold part of their shares in Maj Invest, bringing the company’s investment stake to 79 percent.

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