Capdesia acquires minority stake in Wasabi

Financial details of the transaction remain undisclosed, though Capdesia typically invests €10-30m across the lifespan of an investment and an industry source told Unquote the latest investment falls towards the mid-point of that range.

It is understood that the GP, which deploys capital through a mixture of equity and debt, has acquired a substantial minority via the deal.

The deal is the first European investment for Capdesia and was made on a deal-by-deal basis, though Unquote understands that the GP is in the process of raising a Luxembourg-domiciled fund, which is likely to close within the next six months.

According to trade publication The Caterer, the transaction will support Wasabi's plans to increase its number of sushi and bento stores in the UK and US markets, as well as refurbishing many of its existing stores.

Company
Wasabi was founded in 2003 and is headquartered in London. The business operates 55 stores in the UK and five in the US. It secured a £30m debt package from HSBC in March 2018 to fund the opening of new locations.

People
Capdesia – Niels Lorijn (co-founder, managing director).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom