An investment vehicle backed by one of Argentina’s wealthiest families is in advanced talks to buy YO! Sushi, the fast-casual restaurant group, for about £50m, according to reports this morning.
Quilvest, a Luxembourg-listed wealth management group, has lodged a £51m final-round offer for the sushi conveyor-belt chain, according to the Daily Telegraph.
Quilvest was originally founded to manage the financial interests for the family of Otto Peter Bemberg, the German immigrant turned Argentine brewing magnate.
Led by chief executive Robin Rowland, YO! Sushi is also thought to have received bids from at least two private equity firms ranging from between £40m and £50m.
The business, which is majority owned by Primary Capital, is being advised by Jamieson.
It was founded by entrepreneur Simon Woodroffe, who opened the first site in Poland Street, Soho, in 1997. He still owns 22% of the business.
The group now has just over 30 UK restaurants and last year made underlyng profits of between £4m and £4.5m.
