Yo! Sushi buys London-based Waitrose supplier Taiko

Restaurant group YO! Sushi has continued its expansion drive with the acquisition of a London-based Waitrose supplier.

Taiko Foods, which employs 220 people in West London, makes sushi for supermarkets including Waitrose.

It follows YO!’s acquisition of 600-branch US and Canada restaurant chain Bento Sushi for £59m last year.

Details of today’s deal were not disclosed, but City PM understands that the enlarged group can expect to have annual revenues of as much as £200m.

YO! Sushi restaurants, Bento and Taiko will all continue to operate as separate businesses for the timebeing.

Richard Hodgson, who was appointed YO! Sushi chief executive at the end of last year, said: “This acquisition takes YO! into the next stage of its development, and further expands its global multi-format and multi brand sushi business with extensive manufacturing operations in both the UK and North America. Taiko’s proposition and its management team’s strong track record make it the ideal partner for YO! as we look to further grow our business in the UK.”

The move comes as the UK’s food-to-go market accelerates, even as casual dining operators struggle. The sector is expected to grow 2.8 per cent in 2018, according to the MCA Food-to-go Market Report.

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