Tokyo-based restaurant operator, Zensho Holdings, has acquired a Japanese food business operator in the UK SnowFox Topco for 87.45 billion yen (US$624.3 million). 

SnowFox Topco operates 3000 sushi takeout restaurants under four brands – Snowfox, Bento, Taiko and Yo! – primarily in North America and the UK. The company is also a sushi processor and wholesaler. 

Zensho said the acquisition was in line with its growth strategy and will further strengthen its overseas business through this deal. The company is obtaining the necessary permits and approvals, including approval from the US regulatory authorities. 

Snowfox’s leadership team, including CEO Richard Hodgson, will remain with the business to work closely with Zensho’s senior management.

“I believe this is the right move,” Hodgson said. “Zensho recognises the value of the Snowfox Group’s highly attractive brands, our customer relationships, and our diversified international presence.”

Founded in 1982, Zensho operates a diverse portfolio of businesses in Japan and East Asia, including beef bow restaurant chain Sukiya, the 100 yen sushi restaurant Hama-sushi, and the family restaurant Coco’s. 

Earlier this year, the Japanese operator acquired burger franchise Lotteria Japan from Lotte Holdings.