3rd November 2018
Wagamama founder Alan Yau has said selling the business was like “saying goodbye to a child” while his Chinese noodle bar concept Cha Cha Moon “hasn’t worked out”.
He said: “Wagamama was born in 1992 when my Japanese lodger introduced me to ramen noodles. It was my lightbulb moment because I finally had my anchor product – a soup base of noodles and a topping. I sold my stake in Wagamama in 1997 after bringing in a private equity firm to help fund its global expansion. It was like seeing your baby brought up by strangers with different values. Also, Cha Cha Moon that I launched in 2008 hasn’t worked out.”
Yau’s other operations include the £40m Chinese restaurant Park Chinois and Chinese gastro-pub Duck and Rice.