Sticks’n’Sushi restaurant group has secured a £22m loan to further its expansion plans.
The funding provided by OakNorth bank will be used to launch new branches around the UK.
This development is the result of Sticks’n’Sushi being bought by private equity firm McWin in January. Known for supporting Big Mamma Group and Gail’s, McWin aims to expand Sticks’n’Sushi into new markets over the next five years.
Founded in Denmark in 1994 by Thor Andersen and brothers Kim Rahbek Hansen and Jens Rahbek Hansen, Sticks’n’Sushi draws inspiration from their unique half-Japanese, half-Danish heritage. Their menu highlights various sushi offers and grilled meat skewers.
The group of 1,500 employees has grown to include 12 restaurants in Denmark, three in Germany and 12 in Great Britain. This expansion includes ten locations in London and one each in Oxford and Cambridge.
The brand’s 13th UK restaurant will open in London’s Richmond area in May.
Andreas Karlsson, chief executive of Sticks’n’Sushi, said: “Our continued growth is really exciting – we’ve opened a restaurant every year since 2012 and last year opened two restaurants in Shoreditch and Kingston, followed by Richmond in May – making it three in nine months.
“We have identified great locations for several new restaurants in the coming years, and with the support of McWin and OakNorth, we will be able to capitalize on this.”
Sticks’n’Sushi generated £90m in revenue in the financial year ending June 2023.
OakNorth also supports many other hospitality companies including Alchemist, Z Hotels, Bowland Inns & Hotels and Inception Group.