Chopstix concludes first acquisition

It purchased the Yangtze chain of restaurants from The Wok Ltd for an undisclosed sum.

Launched in 2006 and employing 70 staff, Yangtze operates nine premium, quick service Chinese restaurants across the UK and Ireland.

As a result of the acquisition, Chopstix is now active within 35 shopping and retail hubs across the country. The Chopstix brand operates 75 units in total, 26 of which are located within shopping centres whilst all nine Yangtze outlets are located within centres including Birmingham’s Merryhill Centre and the Meadowhall Centre in Sheffield.

CG director Sam Elia said, “We have been keen to extend our restaurant interests in the “food to go” sector for a number of years, however, were prepared to wait until the right proposition presented itself. With this acquisition, we are pleased to add a second premium brand to our portfolio, and fully intend to maximise the potential of both Chopstix and Yangtze in the months and years ahead.”

CG co-director Menashe Sadik added, “Now that our first acquisition has been concluded, there is a real appetite and desire to consider future activity. We are already assessing a number of potential deals, and whilst Chopstix and Yangtze share an obvious affinity, we are not inclined to limit ourselves exclusively to the Oriental influenced sector, as we seek to achieve the Group’s acquisition and growth ambitions.”