Investment firm leads race for Wagamama
Japanese-style noodle bar chain Wagamama is in advanced talks with several companies over a possible £60m buyout.
Investment company Hutton Collins has emerged as the front-runner, although a source close to the restaurant chain said talks were continuing with a number of parties.
The chain, which has 24 restaurants in the UK as well as overseas franchises, has been pursuing a twin-track strategy, positioning itself for flotation on the London Stock Exchange's Alternative Investment Market, while also tracking interest in a sale.
Hutton Collins was involved in last year's acquisition of PizzaExpress by TDR Capital and Capricorn Ventures International.