Sushi Sushi has announced an expansion into New South Wales, and New Zealand, alongside an agreement to sell a majority share to Odyssey Private Equity. Founder Anna Kasman said she is confident the business will continue to prosper under Odyssey, and that she is grateful to its dedicated and passionate team and franchise partners.
The acquisition is expected to be finalised by the end of the month, while the New Zealand store will open in May, followed by New South Wales store openings later in the year.
Sushi Sushi chief executive Scott Meneilly said the team was very proud of what they had achieved with the Japanese food market business, and are looking forward to working with Odyssey moving forward to grow the business, signalling that “2019 is set to be very exciting.”
Meneilly had previously indicated that the brand had intended to grow into New South Wales during 2018, and had formed relationships with potential partners across Malaysia, the UK, the US and Dubai in the lead-up to an international expansion.
“When you take a brand overseas, you’re relaunching it and you need to get the nuances right within those regions,” Meneilly said.
“What worked in Australia won’t necessarily work overseas, you have to tailor it. It takes an incredible amount of focus and resources to get it right.”
Odyssey partner Paul Readdy said that the acquisition was a great change to work with the experienced management team, with executives who have previously held positions in Boost Juice and Retail Zoo.
“The growth in demand for sushi and Japanese inspired food more generally is being driven by consumers’ demand for healthy and convenient meals,” Readdy said.
“We believe that Sushi Sushi’s commitment to innovation, consumer experience and quality food will continue to fuel the company’s growth.”
