Yo! Sushi in £51m sale talks
Japanese restaurant chain Yo! Sushi is reportedly in £51m sale talks with an investment vehicle.
Quilvest - a company originally founded to manage the financial interests for the heirs of Otto Peter Bemberg, the Argentine beer baron - has lodged a final-round offer for the group, according to the Daily Telegraph.
Entrepreneur Simon Woodroffe founded the Yo! Sushi chain in 1997, with a £150,000 investment.
In 2003, he sold a 78% stake to venture capital firm Primary Capital for £6.5m as part of a management buyout led by current chief executive Robin Rowland.
Woodroffe stepped away from the running of the group, although he receives a royalty of 1% of UK turnover in perpetuity.
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By Daniel Thomas
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