AmRest signs binding agreement to take over Sushi Shop
AmRest, one of the major players in the Horeca industry, announced the signing of a binding agreement to take over Sushi Shop - the leader of the sushi segment in Europe.
The deal is worth €240 million and it will be completed by the end of the year when AmRest will hold 100% of the Sushi Shop shares.
Along with the dominant sales channels (nearly 87% of orders with home delivery and take-out), Sushi Shop will bring in AmRest portfolio a number of 160 restaurants open in 12 European countries.
"AmRest is gaining a new, unique category that will increase profitability and expand our development opportunities in Europe, at the same time adding a strong, proven and truly international brand managed by an experienced team responsible for its development. maximize the value for AmRest shareholders "- said Henry McGovern, founder and member of the AmRest Board of Directors.
Gregory Marciano, founder and CEO of Sushi Shop, commented: "We are excited about the possibilities this transaction creates for the future of the Sushi Shop brand. We believe that as part of the AmRest Group we will have even more opportunities to grow, spread our mission and share a unique offer with our guests. "
A series of analysts identified Japanese cuisine, mainly represented by sushi in the Western world, as one of the trends with a substantial potential for growth in the next years. At this time, Sushi Shop is the leading player in the sushi category in Europe, with sales figures of around 202 million EUR per year. AmRest announced that Gregory Marciano and Adrien de Schompre will remain as CEO and Operations Director, respectively, after the transaction.
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