Sale of Snowfox Group to Zensho Holdings

SnowfoxZensho_Mayfair Sale of Snowfox Group to Zensho Holdings
collage Sale of Snowfox Group to Zensho Holdings

June 2023


Strategic acquisition


Food & Beverage; Retail & Leisure

Transaction Overview

Spayne Lindsay & Co LLP is delighted to announce that it has advised on the sale of Snowfox Group, the largest sushi provider outside of Japan, to Zensho Holdings, the number one Japanese foodservice company by sales listed on the Tokyo Stock exchange, for a total consideration of over $0.6bn. The transaction is subject to anti-trust approval from the U.S. regulatory authorities.


The Snowfox Group has established itself as a highly reputable global sushi platform, fulfilling increased consumer demand for Japanese food across its four distinct brands – Snowfox, Bento, Taiko and YO! in North America and the United Kingdom. The Group provides consumers with high quality, convenient and affordable Japanese food and operates approximately 3,000 chef-operated sushi kiosks and other restaurants in North America and the UK, as well as being a sushi manufacturer and wholesaler.


Spayne Lindsay is pleased to have advised Mayfair Equity Partners LLP from start to finish of their investment journey, having advised on the initial acquisition of YO! Sushi, the UK‐focused sushi restaurant business known for its innovative conveyor belt and an iconic consumer brand in 2015, as well as the subsequent acquisitions of Bento Sushi (2017) and SNOWFOX® (JFE Franchising, Inc.) (2019) that formed key parts of the successful buy & build strategy, through to the ultimate exit to a highly strategic international trade buyer.

Contact Spayne Lindsay for further information