Potential buyers circling £530m Wagamama

Casual dining noodle chain, Wagamama is set to be put on the market, according to The Sunday Times, with various potential bidders approaching the group.

One of these possible purchasers of the £530m company is the former adviser to Boris Johnson, Financier Edi Truell, who is working with a restaurant operator on a joint bid, the newspaper claims.

Wagamama has been owned by investment firms Hutton Collins and Duke Street since 2011, the latter of which was set up by Truell.

The UK-based Pan-Asian dining group was formed in 1992 by Alan Yau, and currently operates around 140 restaurants in total, with 120 across the UK.