Subject to licence, there'll be a Wagamama soon at MediaCityUK - Unit 2, Block B4 - as we predicted back in March. The "fast casual noodle chain" was started by Alan Yau Duk Wai OBE in a basement in Bloomsbury in 1992. Alan sold his interest in 1997, and has gone on to open the Michelin-starred Hakkasan, Cha Cha Moon and the oriental tea-and-cake shop Yauatcha.
Duke Street Capital acquired Wagamama earlier this year and are set on roll-outs of both restaurants and franchises. There are currently 70 in the UK, three in the USA, and 35 franchise operations across Europe. What attracted their interest ? "An attractive economic model delivering high margins, high profit density and cash conversion of over 90%".
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