2 Aug 2010

Wagamama chain may be for sale - report

12:54 pm on 2 August 2010

Pan-Asian restaurant chain Wagamama may be put up for sale by its private equity owner, according to a British media report.

Wagamama has rapidly grown since it opened its first restaurant in 1992, and now has 66 outlets in the UK and a further 39 branches in other countries, including New Zealand.

Britain's Sunday Times newspaper is reporting that majority owner Lion Capital is hoping to sell the company for as much as 250 million Stg.

The UK private equity group bought an 88% stake in Wagamama for 102 million Stg in 2005.

Wagamama's most recent annual report showed its sales for the year to April 2009 rose 13% to 101 million Stg.