Chopstix Group (CG), which owns and operates the franchised chain of 75 Chopstix noodle restaurants across the UK, has made its first acquisition by buying Yangtze, in a deal backed by Metro Bank.
Launched in 2006 and employing 70 staff, Yangtze operates nine quick service Chinese restaurants, located within shopping centres across the UK and Ireland. The acquisition now brings CG’s total number of outlets to 84.
Sam Elia and Menashe Sadik founded CG in 2001 to offer consumers a faster, fresher and healthier alternative in the quick service restaurant sector. The company says it offers authentic Oriental fusion inspired food at affordable prices.
Commenting on the acquisition, CG director Elia, said: “We have been keen to extend our restaurant interests in the food-to-go sector for a number of years, however, were prepared to wait until the right proposition presented itself.
“With this acquisition, we are pleased to add a second premium brand to our portfolio, and fully intend to maximise the potential of both Chopstix and Yangtze in the months and years ahead.”
Sadik, co-director of CG, added: “Now that our first acquisition has been concluded, there is a real appetite and desire to consider future activity.
“We are already assessing a number of potential deals, and whilst Chopstix and Yangtze share an obvious affinity, we are not inclined to limit ourselves exclusively to the Oriental influenced sector, as we seek to achieve the group’s acquisition and growth ambitions.”
www.chopstixgroup.com