- The transaction is valued at $621m
- Snowfox’s leadership team, including Richard Hodgson, CEO, will remain with the company
- Mayfair is a technology and consumer investor based in London
Mayfair Equity Partners will exit The Snowfox Group, a multi-channel and international Japanese food business, to Zensho in a transaction valued at $621 million (€574.98 million).
Snowfox is headquartered in London. It has four brands – Snowfox, Bento, Taiko and YO! in North America and UK.
Mayfair first invested in YO! in 2015.
“It has been a pleasure to be their partner, providing specialist support to diversify their business and grow internationally,” said Waqqas Ahmad, partner at Mayfair.
Snowfox’s diversified international offering will support Zensho’s plans outside of its home market of Japan, according to a release.
Snowfox’s leadership team, including Richard Hodgson, CEO, will remain with the company to work closely with Zensho’s senior management.
Mayfair, based in London, is a technology and consumer investor, with assets under management of over £2 billion. The firm;s other investments include Ovo, LoopMe, and Tangle Teezer.
Zensho is food service company based in Tokyo, Japan.