Travers Smith LLP has advised long-standing client Bridgepoint on its investment in itsu, an Asian-inspired food brand.
The new partnership between itsu and Bridgepoint secures tremendous growth for the restaurant group, including 100 new outlets, creating 2,000 new jobs in the UK alone within the next five years. Total sales for the group in 2022 are forecast to be well in excess of £170 million.
Benoit Alteirac, partner of Bridgepoint, said: "We see a global opportunity for itsu. Their standout offer is an exciting and contemporary attitude to healthy and nutritious food with nearly 40% of it being plant-based. Itsu combines affordable, convenient, and fresh food with an outstanding operational model coupled with deep-rooted brand values. We recognize their time is now and their ambition, goals and purpose are so relevant in this post pandemic era."
The Travers Smith team was led by Private Equity and Financial Sponsors Partners Ian Shawyer and Ian Keefe and assisted by Associate Sam Van Besouw. Specialist Tax advice was provided by Partner Simon Skinner and Senior Associate Silvana Van der Velde. Finance advice was provided by Partner Matt Ayre and Associate Jason Larkins.
