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Sticks'n'Sushi secures £22 million loan to fund expansion of UK restaurants

The Sticks'n'Sushi restaurant group has obtained a £22 million loan to bolster its expansion plans.

The funding provided by OakNorth bank will be utilised to launch new establishments across the United Kingdom.

This development follows the acquisition of Sticks'n'Sushi by the private equity firm McWin in January. McWin, known for its backing of Big Mamma Group and Gail's, aims to expand Sticks'n'Sushi into new markets over the next five years.

Established 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 offerings and grilled meat skewers.

With a workforce of 1,500 employees, the group has grown to encompass 12 restaurants in Denmark, three in Germany, and 12 in the UK. This expansion includes ten sites in London and one each in Oxford and Cambridge.

The brand's 13th UK restaurant is scheduled to open in London's Richmond area in May.

Sticks'n'Sushi' chief executive Andreas Karlsson, said: 'Our continued growth is really exciting – we've opened a restaurant every year since 2012 and we launched two last year in Shoreditch and Kingston, followed by Richmond this May – which will make 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 take advantage of this.'

Sticks'n'Sushi generated £90 million in revenue for the fiscal year ending in June 2023.

OakNorth also supports various other hospitality businesses, including the Alchemist, Z Hotels, Bowland Inns & Hotels, and the Inception Group.