The deal, for an undisclosed amount, comes six years after Wagamama was acquired by Lion Capital for £103 million.
Founded in 1992, the noodle-bar chain now has 70 restaurants in the UK, and 19 around the world.
John Harper, partner at Duke Street comments: ‘Wagamama has the potential […] to extend its category leadership in the UK and accelerate its plans for international expansion.’
The secondary buy-out follows a failed attempt to auction the business off at the end of 2010. The two bidders involved in the auction, Morgan Stanley and Investcorp, failed to meet Lion Capital’s £250 million asking price.
Lion Capital had planned to float Wagamama in 2007, but the financial crisis meant the company did not go forward with the plans.