Private equity firm 3i is understood to have joined the bidding war for Japanese eatery chain, YO! Sushi.
YO! Sushi’s private equity owner Quilvest hired bankers at Canaccord Genuity last year to explore a sale of the business, with a price tag of around £120m.
The restaurant group is looking for a buyer that can fund its expansion in the US, where it recently opened its first two restaurants and where it plans to launch around 50 new sites over the next six years.
There are four other bidders aiming to claim ownership of YO! Sushi with Morgan Stanley’s private equity arm reportedly among them.
YO! Sushi currently operates 90 outlets after opening 10 restaurants in the last year. This also includes around 10 international franchises in the Middle East, Ireland and Scandinavia.