Eat Happy and Hana finalize sushi merger to form pan-European platform

Source: Just Food Author: Shivam Mishra

Eat Happy Group and the European operations of Hana Group have completed their merger.

The two companies first announced in April that they were in talks over a deal backed by a "strategic" undisclosed investment from One Rock Capital Partners.

In a statement released yesterday (27 July), the private-equity investor confirmed that the new company — to be called Eat Happy Hana Group — "brings together two businesses with complementary geographic footprints, concepts and capabilities to form a pan-European platform for ultra-fresh Asian and convenience food."

Key Details of the Merger

• Eat Happy's network: Approximately 4,300 points of sale across seven European markets
• Hana's network: More than 1,500 locations in 12 countries
• Strategic rationale: Hana has a "well-developed" network in markets where Eat Happy has limited or no presence, including the UK, France, Spain, and Belgium

Leadership Commentary

Scott Spielvogel, Managing Partner at One Rock Capital Partners, said the investor was drawn to the segment's "resilience and growth potential," as well as the companies' retail relationships and management teams.

"Eat Happy Hana Group enters the One Rock portfolio with a strong foundation, and we look forward to working closely with management to support the next phase of growth for the business."

Dr. Johannes Steegmann, appointed Eat Happy CEO in 2024 and now leading the combined group, said the merger would accelerate the sharing of ideas and operating models across markets.

"The merger gives us a compelling opportunity to combine ideas, expertise and successful formats from across Europe. By accelerating the exchange of innovative concepts and best practices, we believe we can bring new and exciting fresh convenience solutions to our customers and retail partners more quickly than ever before."

Luca Mammola, CFO of Eat Happy Hana Group, noted that both companies shared "a common passion for quality, freshness and customer focus."

Company Profiles

Hana Group supplies sushi and Asian-inspired food across Europe, with more than 1,500 points of sale in 12 countries. Its portfolio includes 20 brands such as:

• Sushi Gourmet
• Sushi Market
• Genji
• Izakaya
• Mai
• Wok Street
• Poké Lé Lé

Eat Happy, founded in 2013, produces and distributes handcrafted "fresh" Asian convenience food. Its brands include:

• Eat Happy
• Yuzu
• Wakame
• Eat Fresh
• Fresh Kitchen
• Candy Cuisine

Additional Context

At the time of the initial announcement, the companies stated that the merger would broaden Eat Happy's production and distribution footprint while giving Hana access to new capabilities and formats to support further growth.

Permira, Hana's majority shareholder since 2019, had said in April that the transaction would see it make a full exit from Hana's European operations, while it would remain invested in the US business.

"Eat Happy, Hana finalise sushi merger" was originally created and published by Just Food, a GlobalData owned brand.