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Investment firm leads race for Wagamama

05 July 2004
Investment firm leads race for Wagamama

Japanese-style noodle bar chain Wagamama is in advanced talks with several companies over a possible £60m buyout.

Investment company Hutton Collins has emerged as the front-runner, although a source close to the restaurant chain said talks were continuing with a number of parties.

The chain, which has 24 restaurants in the UK as well as overseas franchises, has been pursuing a twin-track strategy, positioning itself for flotation on the London Stock Exchange's Alternative Investment Market, while also tracking interest in a sale.

Hutton Collins was involved in last year's acquisition of PizzaExpress by TDR Capital and Capricorn Ventures International.

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