Zensho to acquire Snowfox Group in $839 million deal

Zensho Holdings Co., Ltd., Japan's leading food service company by sales, announced its acquisition of the Snowfox Group, an international Japanese food business, for $839 million (US$621 million). Snowfox, known for its global sushi platform and diverse brands including Snowfox, Bento, Taiko, and YO!, operates approximately 3,000 chef-operated sushi kiosks and restaurants in North America and the UK. The acquisition marks Zensho's strategic move to expand its global footprint and leverage Snowfox's international presence and diversified offering. Mayfair Equity Partners, a consumer and technology investor, will fully exit Snowfox as part of the deal, which is pending customary closing conditions. Snowfox's CEO, Richard Hodgson, and the leadership team will remain, aiming to integrate Zensho's Japanese heritage with Snowfox's operations to benefit all stakeholders. Zensho, with a mission to provide safe and affordable food globally, operates a variety of businesses, including Sukiya and Hama-sushi, expanding its reach in East Asia, the US, and Malaysia. The transaction underscores Zensho's commitment to enhancing its international presence and Snowfox's role in catering to the growing demand for Japanese cuisine worldwide.

Merger & Acquisition
Other
$ 839,359,125
Closed
19 September 2023