Japan-based restaurant group Huge has secured an investment from private equity (PE) company L Catterton.
The investment was said to be “strategic” though financial details were not revealed.
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Huge runs 47 premium casual sites under various brands serving Spanish, Italian, Mexican, American, Modern Asian and other cuisines.
Approximately 30 of the group’s sites operate in the Tokyo metropolitan region, with the remaining sites located in key cities such as Fukuoka, Kyoto, Nagoya and Okinawa.
Huge founder and CEO Yoshihiro Shinkawa said: “Huge’s vision since its founding has been to ‘create high-quality restaurants that can last for over 100 years and add value to the towns in which they are situated’, offering locals and tourists outstanding dining experiences.
“Partnering with L Catterton enables us to better realise our vision as the firm has a proven track record of successfully investing in and growing restaurant companies with world-class brands. We are confident that L Catterton’s extensive experience and operating capabilities in the sector will be game changers as we strategically accelerate our domestic and international expansion.”
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By GlobalDataThe deal is intended to support the group’s expansion in Japan’s restaurant sector and provide a platform for international growth, drawing on L Catterton’s experience in foodservice investments.
L Catterton partner Taka Shimizu said: “Huge is a truly differentiated restaurant group rooted in its unique ability to successfully create and operate multiple dining establishments in Japan with a wide range of concepts across a variety of cuisines. Given its distinctives, as well as strong brands and broadening loyalty programme membership base, it is very well poised for further growth in the country’s restaurant market.”
L Catterton has backed around 30 restaurant businesses worldwide. Its current and former holdings in the category encompass Baja Fresh, Cigierre, Dishoom, Hopdoddy, and P.F. Chang’s.
In the Japanese market, the PE company recently acquired Kobe beef restaurant chain Kisshokichi and has been working with that business on operational improvements and growth initiatives.
