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FRANCHISING | Staff Reporter, UK
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Wagamama plans to expand US presence as it seeks new ownership

The Asian-inspired dining chain plans to open two more sites in New York this year.

Wagamama has confirmed that the company has appointed bankers from Goldman Sachs to "review strategic growth options for the business", per a report from City A.M.

The chain, currently owned by private equity firms Duke Street Capital and Hutton Collins, was bought in 2011 for £215 million. Since then, it has more than 130 restaurants in the UK, five in the US and 51 international franchisees.

Wagamama expects the sale to drive their US expansion, following management strengthening and plans to open additional sites in New York this year. It is then understood that the company owners would prefer a US-based equity firm.

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