Sushi Sushi, which began in Melbourne in 1998, has been snapped up by Tokyo-based Genki Global Dining Concepts.
Popular Australian sushi chain Sushi Sushi has been bought by a Japanese dining empire in a deal estimated to be worth $160 million.
The food court staple, which began in Melbourne in 1998, has been snapped up by Tokyo-based fast food giant Genki Global Dining Concepts after being listed for sale in mid-2025.
Sources at the time told the Australian Financial Review that Odyssey Private Equity, which bought the sushi franchise in 2019, would be fielding offers above $160 million.
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Genki – which began as a sushi train in 1968 – is one of the biggest fast food giants in the world, with stores in the United Srtates, Hong Kong, Malaysia, Singapore, Kuwait, the Philippines, China, Cambodia, Indonesia and Myanmar.
"Sushi Sushi is an iconic Australian brand with a powerful consumer proposition, strong franchise performance and significant runway for expansion, both in Australia and internationally," said Genki chief executive Mitsuzo Fujio.
The transaction has been described by Genki as part of its effort to become one of the world's leading Japanese sushi brands in terms of store numbers.
Sushi Sushi operates 190 stores across Australia.
It embarked on an aggressive growth strategy when acquired by Odyssey in 2019, adding 60 stores in the past seven years.
Sushi Sushi and Sushi Musa, another Odyssey brand, generated a yearly revenue of $88.7 million in the last financial year.
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The brand began in the back of a fish shop in Box Hill, Victoria.
"Our founder was working in the fish shop during the day and in a high-end Japanese restaurant at night," Sushi Sushi notes on its website of co-founder Anna Kasman.
"She realised that sushi was quality fish on rice; simple quality ingredients artfully made together for an exceptional taste, and she asked one of her chefs to create a Hand roll that they could sell to customers in a fast, fresh and affordable way."
Australia's sushi industry neared the $1 billion mark in 2025, according to IBISWorld.
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