Hawksmoor, a renowned UK steakhouse chain, reports significant financial growth, prompting a potential £100m valuation.
- The London-based chain increased its turnover to £89.7m in 2023, up from £73.9m in 2022.
- Pre-tax profits soared to £1.49m from £282,000, reflecting strategic expansions and success.
- Hawksmoor’s owner, Graphite Capital, seeks buyers, having held a 51% stake since 2013.
- The chain’s expansion included new locations in Liverpool, Dublin, and an entrance into the US market, with further growth planned.
Hawksmoor, a well-regarded steakhouse chain headquartered in London, has experienced notable financial success, culminating in the possibility of achieving a £100m valuation. The chain’s turnover surged to £89.7m in 2023, marking a significant rise from the previous year’s £73.9m, according to recent filings. This growth coincides with private equity firm Graphite Capital’s decision to put the chain up for sale.
Pre-tax profits at Hawksmoor also showed impressive growth, jumping to £1.49m this year from a modest £282,000 in the preceding year. This financial upswing is largely due to strategic decisions to expand the company’s footprint. Not only has Hawksmoor increased its presence across the UK, with prominent openings in Liverpool and Dublin, but it has also entered the lucrative US market, establishing a presence in Chicago.
The company’s internal statement highlighted its strong brand reputation, profitable sites, and significant cash generation as key factors positioning it for continued success. It further noted the potential for additional debt facilities to support future expansions. Such financial readiness underpins the company’s ambitious growth plans, which extend to several new restaurant launches targeted for the US market by 2025.
Graphite Capital, which has held a controlling 51% stake in Hawksmoor since 2013, is now seeking buyers. Despite the change in ownership, the chain’s founders, including CEO Will Beckett, retain minority stakes and have expressed confidence in the ongoing process to find suitable new investors.
As the chain continues to experience record sales and profitability, its strategic positioning and operational excellence have reinforced Hawksmoor’s status as a leading player in the upscale dining sector. The company’s ability to maintain growth while preserving its reputation with both staff and customers is a testament to its robust business model.
Hawksmoor’s impressive financial performance and strategic expansions position it well for a successful sale, despite the ongoing search for new ownership.
