Sticks ‘n’ Sushi backer appoints advisors as it seeks exit: Maj Invest Equity has appointed advisors to assess options for a sale of its stake in Japanese restaurant group Sticks ‘n’ Sushi. The Copenhagen-based private equity firm, which first invested in Sticks ‘n’ Sushi at the start of 2013, is understood to be working with advisors at Deloitte to oversee the process. The investment firm currently holds a circa 80% stake in the 25-strong restaurant group, which is led by Andreas Karlsson. The business, which was founded in Denmark in 1994 by brothers Jens and Kim Rahbek and Thor Andersen, currently operates 12 restaurants in Copenhagen, ten in the UK and three in Berlin. Last December, the company celebrated a decade of operating in the UK by opening a tenth site over here, in Westfield White City – its eighth London restaurant, alongside regional sites in Cambridge and Oxford. It is understood to be in talks on adding a further site in the capital, in Kingston’s Bentall Centre. In January, the company said its next phase of growth will be to add further restaurants in Greater London and continue to explore further delivery-only kitchens in key strategic areas, as its posted full-year turnover of more than £44m in the UK. It said: “We believe we have a very strong portfolio of restaurants, which consist of a good variety of larger and smaller restaurants within London and outside the city. We are continuing exploring further opportunities for both new restaurants and delivery kitchens in London in 2022-23. The first phase of the strategy plan was to build a strong business platform in and outside London, with planned opening of ten to 15 restaurants. Hereafter, the next phase of growth will be to add further restaurants in Greater London and continue to explore further delivery-only kitchens in key strategic areas. Internationally, we opened our third Berlin restaurant in October 2022, with a plan to add another to add further restaurants in Berlin in the near future.” At the end of 2021, the business reported the UK was its biggest market as it reported full-year turnover had reached £57m. For the year to 30 June 2022, the business reported turnover of £44m in the UK, compared with £26.4m in the financial year 2020-21. The company realised an Ebitda of £8.8m against £6.5m. Pre-tax profit for the year stood at £7.08m (2021: £4.77m). In 2013, Maj Invest took a 49% stake in the company, while the founders remained the majority shareholders. At the time, Maj Invest's aim was to expand the chain's presence internationally. In 2019, the founders of the company sold a part of their stake to Maj Invest, which took the investment firm’s shareholding up to 79%. Sticks ‘n’ Sushi features in the Propel Turnover & Profits Blue Book. Its UK turnover of £44,015,000 is the 144th highest in the database. Its pre-tax profit of £7,078,000 is the 81st highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription.