Wagamama hires Goldman Sachs to explore sale options

Wagamama is engineering itself into position for a possible sale after appointing Goldman Sachs to review its “strategic growth options”.

The pan-Asian inspired noodle outfit confirmed that it is looking into the choices available to it after recently strengthening its management team and opening in new international locations.

Current owners Duke Street and Hutton Collins bought the company in 2011 and remain “long-standing and supportive shareholders”, the company said.

Wagamama CEO Jane Holbrook added that the chain is focused on becoming a worldwide name.

“Our vision is for Wagamama to become an iconic global brand and we are excited to explore the strategic options which will help us do this,” she commented.

Wagamama currently runs 130 restaurants in the UK, five in the US, and has 57 franchise restaurants around the world. In recent months it has strengthened its US management team and is planning two new sites in New York in the next 12 months.

The company said its successful growth strategy is reflected in its results. It recently recorded an unprecedented 208 consecutive weeks of UK market outperformance that saw it exceed the market by 8.2%, according to the Coffer Peach Tracker.

Last year it made an operating profit of £22.2m on sales of £266.1m.

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