The sushi chain Yo!’s parent company, Snowfox Group, has reportedly picked further advisers for a potential £750m listing.
According to Sky News, the Snowfox Group is working with Barclays, Jefferies and Peel Hunt on a prospective initial public offering (IPO).
Mayfair Equity Partners, the company’s controlling shareholder, is said to have identified March or April as potential dates to announce Snowfox’s intention to float.
Sky News said deliberations about a listing are taking place alongside ongoing discussions with third parties which have expressed an interest in buying Snowfox outright.
However, market sources believe the prospects for a series of IPOs, including those of Snowfox and Burger King UK, face delays due to stock market volatility.
Snowfox has reportedly become a “major international player” in the Japanese food wholesale sector, selling more than 60 million trays of sushi annually and supplying retailers such as Tesco and Asda in the UK.
It now operates only 65 Yo!-branded restaurants, having cut hundreds of jobs and closed a significant number of sites in 2020.
The group has also appointed the former Argos chief John Walden as chairman.
