Growth is on the menu at Asian-inspired food brand itsu after the business signed a deal with international alternative asset group Bridgepoint. The agreement, which involves Bridgepoint taking a minority stake in the company, is expected to create thousands of jobs within the UK.
The new partnership between itsu and Bridgepoint secures growth for the restaurant group, including 100 new outlets, creating 2,000 jobs in the UK within the next five years.
itsu‘s founder Julian Metcalfe said: “We are thrilled to be teaming up with Bridgepoint again after our success together at Pret a Manger during the dynamic 2008-2018 era.
“We’ve spent months in lockdown working with them to ensure itsu will be well-funded for long-term growth. Never before has enjoying healthy, nutritious food been so uppermost in customer’s minds. This is what itsu does beautifully for about £7 per head.”
The new sites are in addition to the deal itsu has recently signed with Pizza Hut and other major franchise operators in the UK, France, and Belgium.
Benoit Alteirac, partner at 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 per cent of it being plant-based.
“Itsu combines affordable, convenient, and fresh food with an outstanding operational model coupled with deep-rooted brand values. We recognise their time is now and their ambition, goals and purpose are so relevant in this post pandemic era.”
By Adam Beech
Source: Insider Media