The Chopstix Group, which owns and operates the eponymous chain of 75 noodle restaurants across the country, has completed its first ever acquisition.
The group has purchased the popular Yangtze chain of restaurants from Wok Ltd for an undisclosed sum, in a deal backed by Metro Bank.
Yangtze, which launched in 2006 and employs 70 staff, operates nine premium, quick service Chinese restaurants across the UK and Ireland.
As a result of the acquisition, the Chopstix Group 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.
The Chopstix Group 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.”
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.”