Walkers Guernsey team advised owners of the YO! Sushi chain in $621 million deal

Oct 1, 2023

A man in a business suit signing a legal contract.

Walkers' Guernsey team has advised Tokyo listed Zensho Holdings on the acquisition of the Snowfox Group the owners of the YO! Sushi chain (amongst others) in a $621 million deal.

A Walkers team led by Partner Chris Hutley-Hurst advised Zensho on the Guernsey law aspects of the transaction working with lead counsel Nagashima Ohno & Tsunematsu and Gibson Dunn.

The Snowfox Group owns and operates YO! Sushi's 3,000 sushi kiosks in the UK, US and Canadian supermarkets, including 400 YO! outlets in Tesco and Asda, as well as: Sukiya, mainly in East Asia; Advanced Fresh Concepts (AFC) mainly in the US; and The Chicken Rice Shop (TCRS), which operates halal-certified chicken rice shops in Malaysia.

Chris led the Walkers team that included Jessica Robinson and Charlotte Goncalves.

Chris said: 'We are very pleased to have worked with NO&T and Gibson Dunn on this transaction, which shows again how popular Guernsey companies are in the structuring of international businesses.'

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