Purchase of YO! owner completes

By Restaurant

- Last updated on GMT

Purchase of YO! owner completes

Related tags Snowfox YO! Sushi retail Omnichannel Foodservice Japanese cuisine Zensho Holdings

The Snowfox Group’s acquisition by Zensho Holdings has completed in a deal valued at $621m (£500m).

Mayfair Equity Partners, which has backed Snowfox's core restaurant brand YO! since 2015, has now fully exited Snowfox.

Founded in 1982, Japanese food group Zensho is the number one food service company in Japan by sales. Snowfox’s leadership team, including CEO Richard Hodgson, will remain with the business to work closely with Zensho’s senior management.

“Becoming part of Zensho represents a significant and hugely exciting next step for the Snowfox Group," says Snowfox Group CEO Richard Hodgson.

“Zensho is an outstanding business which shares our passion for quality, authentic and affordable Japanese food. Above all, it is testament to the strength of the business we have built that a Japanese business of Zensho’s reputation and heritage wants us to join them.

“With Mayfair’s support, Snowfox has already established itself as a Japanese food provider of international scale and expertise – and I am confident that under Zensho’s ownership, we will build on this further, unlocking our next stage of growth.

“I would like to take this opportunity to thank all of my colleagues for their continued hard work and dedication and I look forward to working with them on the next leg of the Snowfox journey.”

Waqqas Ahmad, partner at Mayfair Equity Partners, adds: “YO! was one of Mayfair’s earliest investments and we’re proud of the role we played in creating the Snowfox Group and supporting the company’s growth, particularly in the United States. “We have no doubt that Snowfox will thrive under Zensho’s ownership, with leadership from Richard and the brilliant Snowfox team. I would like to extend my thanks to the Snowfox team for their hard work and look forward to seeing their continued success as part of Zensho.”

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