Tuesday, 21 November 2017

YO! Sushi has bought Bento Sushi

But why are they telling me? I'm a vegetarian. 'They don't know that, boss.' Oh. Well, maybe they should do a bit of research, Voice, yeah? 'Ha! For Christ's sake! Cut them some slack, man. They can't check on the dietary habits of everyone they send a PR email to.' No? Oh, all right.

YO! Sushi ("YO!"), the iconic Japanese restaurant group, today [uh, yesterday] announces the acquisition of Bento Sushi ("Bento"), North America's second largest sushi brand, creating a global multi-channel and multi brand sushi platform. The acquisition values Bento at CAN $100 million and has been facilitated by Mayfair Equity Partners, who partnered with the YO! management team as part of a management buyout in 2015.

What?! Multi-channel?! Are they on TV then? I haven't seen them. 'No, boss, it's just their way of talking, you know.' Their way of talking?! Seriously? Why can't they talk normally? Jesus H. - !!! What the hell is happening to this world?! / Anyway ...

Bento, founded in Toronto in 1996 by Ken Valvur, is the second largest sushi brand in North America, and the largest in Canada trading from over 600 locations, whilst supplying sushi to a further 1700 partner sites. Bento operates across a range of formats which complement YO!'s existing proposition. These include quick service restaurants, on-site kiosks in supermarkets and other food service locations, and a number of production facilities which supply sushi to grocery and institutional food service clients across North America. The business has achieved strong growth, delivering compound annual sales growth of 16% in the last three years. Bento and its licensees employ over 2000 highly trained sushi chefs and serve more than 20 million sushi portions every year. Bento's success has been driven by Ken Valvur and Glenn Brown, Bento's Chairman and Chief Executive Officer respectively, and as part of the deal they join the Board of YO! and become significant shareholders in the combined group.

Well, that's nice. It's very nice. But what about the poor fish? What do they get out of it? Maybe our Robin will tell us ...

Robin Rowland, Chief Executive Officer of YO!, commented: "We've successfully reinvigorated the business over the last two years to ensure the foundations are in place for long term growth. This acquisition takes YO! into the next stage of its development, and creates the first global multi-channel Japanese food purveyor. Bento's proposition and its management team’s strong track record make it the ideal partner for YO! as we look to further grow our brand."

Oh. What about the fish, son? / Well, maybe our Glenn ...

Glenn Brown, Chief Executive Officer of Bento Sushi, stated: "This partnership presents Bento with an incredible opportunity to grow its platform. YO! and Bento share a similar ethos and history, and we look forward to working with the YO! team and taking advantage of opportunities to develop both brands."

Okay, okay. Nothing about the fish that are making it all possible. Talk about ingratitude!


Yeah, couldn't come soon enough, frankly.


Anything else? Brexit? More jobs were lost yesterday. We seem to be haemorrhaging jobs now. I suppose it's for the best. One day we'll all be sitting in our own piss. And when that day comes ... I don't want to hear any fucking complaints from anyone, you understand? It's the will of the people.