Zensho to Buy U.S. Sushi Chain Operator
Tokyo, Oct. 16 (Jiji Press)--Zensho Holdings Co. <7550> said Tuesday that it will acquire Advanced Fresh Concepts Corp., a U.S. sushi takeout chain, for 257 million dollars, the largest acquisition by the Japanese restaurant chain operator.
Zensho will acquire all outstanding shares in Advanced Fresh Concepts, based in Rancho Dominguez, California, in mid-November.
Advanced Fresh Concepts runs over 4,000 franchise stores in the United States, Canada and Australia, including 3,700 in the United States. It is the largest sushi takeout chain in the United States by sales and store number.
Zensho "hopes to generate a synergistic effect in menu development and other areas by acquiring know-how on ready-made meals from Advanced Fresh Concepts," a company official said.
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