Yo! Sushi acquiring Taiko Foods
United Kingdom restaurant chain Yo! Sushi is acquiring Taiko Foods, which supplies sushi and Asian food to-go to Waitrose and other grocery chains.
While Yo! Sushi did not disclose a purchase price, a news report said the combined companies can expect annual revenues of BP 200 million (USD 278 million, EUR 230 million).
Yo! Sushi also acquired Toronto, Ontario-based Bento Sushi last November, for GBP 59 million (USD 82 million, EUR 68 million).
"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 U.K. and North America,” said Richard Hodgson, chief executive of Yo! Sushi, in a press release, City A.M. reported. “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 U.K.”
YO! Sushi, Bento and Taiko will all continue to operate as separate businesses.
Taiko said on its website that it is the first manufacturer of sushi for the U.K. supermarket industry. It supplies sushi, bentos, and snacking products to Waitrose, Pret a Manager and Costco.