Conveyer belt sushi chain Kura Sushi USA, operated by Kura Japan, aims to raise USD 58 million (EUR 52 million) via an initial public offering.
The 21-unit chain, which generated USD 52 million (EUR 42 million) in sales in its last full fiscal year, plans to operate more than 290 locations in the U.S., Restaurant Business reported.
Kura Japan operates more than 400 units worldwide, according to Restaurant Business.
Kura Sushi USA, which has restaurant in California, Texas, Georgia, and Illinois, expects to grow its unit count by 20 percent a year over the next five years. Its average restaurant nets around USD 3.5 million (EUR 3.1 million) in sales, the magazine reported.
Its menu features 140 different dishes, primarily priced below USD 3.00 (EUR 2.67) each.
The company uses technology throughout to increase efficiency and lower costs, according to a U.S. Securities and Exchange Commission filing, Restaurant Business said.
“It uses conveyor belts to serve sushi to customers. In the kitchens, it has automated equipment, sushi robots, robotic arms, RFID readers, and food replenishment algorithms to reduce labor and food costs,” the magazine said.
