Newcastle investor Middleton Enterprises has injected £1.3m into London restaurant chain SushiDog, which aims to ramp up store openings.
The investment is the third time the family office has backed SushiDog, whose fast-food approach to the Japanese dish aims to change the way people eat sushi. It follows an £800,000 sum put into the business last year, and £612,000 before that in 2023.
The backing will help SushiDog speed up the pace of new site openings with a view to the chain operating 40 locations over the next five years. Initial growth has happened in London, including the brand's largest store, in Warren Street that opened in April. It is now eyeing nationwide expansion.
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James Middleton, investment manager at Middleton Enterprises, said: “This is our third investment into SushiDog. We made the decision to invest in the business again because it has a proven rollout model, based on predictable, repeatable growth.
"They have constantly raised the bar, innovating and evolving with each new store, which gives us confidence in the next stage of growth that will see new sites appearing up and down the country. We have a great relationship with the founders, who know that we’re willing to invest in a longer-term project, providing the necessary finance to help them with each phase of development.”
SushiDog offers a 'build-your-own' meal concept, with a menu including sushi rolls, poké bowls and salads which are customisable. The business began in 2018 as a kiosk at Westfield London and has gone on to become a chain of 10 sites.
Greg Ilsen, SushiDog’s co-founder, said: “Middleton Enterprises provided the stability and finance we needed to scale quickly, to the extent that we are on track to generate over £8m this financial year and now employ around 130 people. We’re in a good position and the latest round of funding will help us speed up our rate of growth.
"Middleton Enterprises have an entrepreneurial spirit and they’ve always been very supportive. When they came on board we had four sites in London, we’ve recently opened our tenth store and now we’re looking to expand nationally, perhaps even internationally further down the line."
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Richard Morris, non-executive director at SushiDog, said: "It’s an exciting time to be involved in SushiDog. The founders Greg and Nick should be congratulated on what they’ve achieved so far.
"They have the backing of an investor with relevant industry experience that has helped them to carve out a niche in a crowded marketplace. They’re open to collaboration and they’ve leveraged their peer network to make some smart appointments that will support the next stage of growth."