Wagamama set to look for new owner

So-called pan-Asian food chain Wagamama has appointed Goldman Sachs to “review strategic growth options for the business” as it looks to expand into the US.

It has been reported that the options put forward by Goldman Sachs will include a potential sale of the company. Wagamama said in a statement: “Our owners Duke Street and Hutton Collins bought the company in 2011 and they are both long-standing and supportive shareholders”.

It is thought that the current owners would favour a US private equity firm as the buyers. Wagamama said that the expansion plans come after an “unprecedented 208 consecutive weeks of UK market outperformance, outperforming the market by 8.2%”.

Jane Holbrook, Wagamama CEO, said: “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.”

The chain also used the statement to announce plans to open two new restaurants in New York in the next two months.

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