Sticks'n'Sushi Gears Up for UK Expansion with £22M Funding
Posted by Emily on 22nd Feb 2024
Sticks'n'Sushi has obtained a £22 million loan from OakNorth Bank, earmarked for its ambitious UK expansion strategy. This financial boost follows the January acquisition by McWin, a private equity firm known for supporting notable brands like Big Mamma Group and Gail's, with a vision to broaden Sticks'n'Sushi's market presence over the next five years.
Photo Source & Copyright - https://sticksnsushi.com/
Founded in Denmark in 1994 by Thor Andersen and the Rahbek Hansen brothers, Kim and Jens, Sticks'n'Sushi was born out of a unique blend of Danish and Japanese culinary traditions, offering a distinct menu of sushi and grilled skewers. Today, the company boasts a robust workforce of 1,500 across 27 locations, including 12 in Denmark, three in Germany, and 12 in the UK, the latter featuring a strong presence in London alongside sites in Oxford and Cambridge.
The launch of its 13th UK restaurant in Richmond this May underscores Sticks'n'Sushi's aggressive growth trajectory, highlighted by Andreas Karlsson, the group's CEO and the architect behind Wagamama's international expansion. Karlsson expressed enthusiasm about the brand's progress, noting the opening of new restaurants each year since 2012, with the Richmond launch marking three new openings within just nine months.
The strategic expansion plan, bolstered by the recent funding and partnerships with McWin and OakNorth, positions Sticks'n'Sushi for significant growth, targeting several prime locations for future restaurants. This move is part of a broader growth narrative that saw the company generating £90 million in revenue as of June 2023, underscoring its strong market position and potential for further development.
Photo Source & Copyright - https://sticksnsushi.com/
OakNorth's portfolio also includes other hospitality ventures such as the Alchemist, Z Hotels, Bowland Inns & Hotels, and Inception Group, indicating a broad commitment to supporting growth within the sector.
We welcome your thoughts and comments on Sticks'n'Sushi's expansion plans and their impact on the UK's dining landscape. Share your views below!