Frederic Lluch has stepped down as managing director of Wasabi Sushi & Bento, and leaves the business today (11 July).

In a post on LinkedIn, Lluch thanked his team for their support and what they had achieved together. “It is a new era for Wasabi which I am sure will be even more successful than the last 15 years,” he said.

Lluch has served as MD for the past two years, and was previously national operations director – a role he held from March 2016 to July 2017.

In May this year it was announced that private equity firm Capdesia had acquired a minority stake in the 55-strong chain. It followed Wasabi’s appointment of PwC last October to aid it secure a new cash injection.

Capdesia made the undisclosed investment alongside Sushiro Global Holdings – Japan’s largest publicly-listed sushi chain operator - and UK and US asset manager Regis Group.

The funding will be used to support the next phase of growth including the expansion of the UK portfolio, a refurbishment programme of existing stores, further expansion of its US presence and “development of other commercial opportunities for the brand”.

Simultaneously, Sushiro, Capdesia and Wasabi entered into a three-way business alliance agreement to “seek further investment and business development opportunities.