Wagamama on the expansion trail
Published: 28 July, 2011
The pan-Asian noodle bar chain has received a new injection of capital and it is planning to step up its store acquisition programme.
Cushman & Wakefield has been exclusively retained by Wagamama, now owned by Duke Street Capital, for an aggressive UK expansion to 300 restaurants.
Wagamama defines its approach as: “combining fresh and nutritious food in an elegant yet simple setting with helpful, friendly service and value for money” and this approach has allowed it to grow rapidly since it opened its first restaurant in 1992.
It currently has 71 stores in the UK. The target of 300 restaurants will be achieved by opening 20 restaurants per year, and the acquisitions drive will be led by Chris Warren, head of the Cushman & Wakefield leisure and restaurants team, and assisted by Thomas Rose.
While the initial focus will be on London and the South East, the requirement is nationwide. The latest Wagamama opening is in the town centre of Horsham with 20 more openings planned before April 2012.
Warren said: “We are delighted to have been exclusively retained by Wagamama, having already helped it to acquire sites before its purchase by Duke Street Capital. Wagamama has been remarkably successful when rolled out into different types of sites in a variety of regions.The fast casual sector has seen genuine growth in the last 18 months and we are excited to help Wagamama to grow in the coming years.”
Sharon Cawthorne, property director of Wagamama, said: “Having been acquired by Duke Street Capital we are now able to put in place a far more aggressive expansion plan. We are delighted to have brought Cushman & Wakefield on board to help us to secure the best locations for our new openings.”
