Wasabi plans future expansion with investment from Capdesia
10 May, 2020
Since opening its first store in Embankment in 2003, the Wasabi Group has grown to 55 sites in the UK and a further 5 sites in the US. This, alongside a recent expansion into the ready meal market as part of an exclusive arrangement with national supermarket, Sainsbury’s, has positioned the Wasabi brand as a leader in the 'food to go' market.
Capdesia’s investment will be used to support the next phase of growth including the expansion of the UK portfolio, a refurbishment program of existing stores, further expansion of its US presence; and development of other commercial opportunities for the brand.
Wasabi founder, Dong Hyun Kim, said “I am extremely proud of what the team at Wasabi has achieved over the last 15 years, from the first days at Camden Market right up to today, and I’m incredibly grateful to all those who have contributed to our story so far. I have always believed in the potential of the Wasabi brand and I wanted to share that experience with more customers every day. I am pleased to have found the right partner to help us to continue our journey and we look forward to taking Wasabi to the next stage of expansion with Capdesia.”
Capdesia Co-founder and Managing Director, Ashton Crosby, said "As sector specialist investors, we seek to partner with exceptional entrepreneurs in fast growing branded food-service chains across Europe. We invest flexible growth capital to support founders and operators and utilise our team’s decades of international operating experience and deep industry knowledge to help accelerate our portfolio companies’ growth, both domestically and abroad."
"In Wasabi, we identified a robust core business with above-average site-level economics and strong customer loyalty that is benefitting from the changing consumer demand towards healthier food and faster speed of service. We were immediately struck by the quality of its food, its competitive price point and its lean and scalable operating model.”
“We look forward to writing this new chapter in Wasabi’s history together with its founder Dong Hyun Kim and the management team."
About Wasabi Group
Founded in 2003 by Dong Hyun Kim, the Wasabi Group comprises 55 sites in the UK and a further 5 sites in the US, under the main flagship brand Wasabi and other smaller brands Kimchee, a Korean restaurant and Soboro, a Japanese and Korean bakery.
Wasabi is a healthy Japanese sushi & bento chain with 50 stores in the UK and 5 in NYC. Wasabi is known for its fresh, authentic and affordable Japanese sushi and it’s delicious bentos, with the Chicken Katsu Curry bento being the most popular. Wasabi also sells a home bento range in more than 1,000 Sainsbury's stores across the UK.
About Capdesia Group Limited
Capdesia Group Limited is a London-and-Brussels-based private equity firm that focuses exclusively on the restaurant space by investing in emerging and scalable brands in the UK and Europe. Aside from providing creative capital solutions, what makes Capdesia unique is the depth of operational expertise of their Operating Partners and how they leverage that experience to the benefit of their portfolio companies in support of expansion, including franchising and international.