Hawksmoor, a renowned steakhouse chain, is set for a £100m valuation following substantial growth.
- The company reported a notable increase in turnover, reaching £89.7m for 2023, up from £73.9m in 2022.
- Pre-tax profits have seen a significant rise from £282,000 to £1.49m in the same period.
- Expansion efforts include new locations in Liverpool, Dublin, and an entry into the Chicago market.
- Private equity firm Graphite Capital, holding majority ownership, has put Hawksmoor up for sale.
Hawksmoor, the steakhouse chain headquartered in London, is experiencing significant financial success. The company has announced a turnover of £89.7m for 2023, which marks a significant increase from £73.9m in 2022. This impressive growth has led to a potential valuation of £100m as Graphite Capital, a private equity firm, seeks to divest its 51% stake.
Furthermore, the company’s pre-tax profits have shown remarkable growth, rising from £282,000 to £1.49m. This financial upturn is attributed to effective strategic planning, including opening new restaurants in Liverpool and Dublin, and entering the Chicago market post their financial year-end.
In 2023, Hawksmoor expanded its workforce considerably, increasing from 921 to 1,173 employees. This expansion reflects their growing footprint within the UK and internationally in cities such as Edinburgh, New York, and Chicago. The company’s board expressed confidence, citing the brand’s strong reputation and industry-leading status.
With current trading levels at record highs, Hawksmoor is well-positioned for further expansion in the United States, with new restaurant openings planned from 2025 onwards. The brand’s reputation for profitability and customer satisfaction provides a solid foundation for continued growth.
Founded in 2006, Hawksmoor has developed an exceptional market position. However, the decision by Graphite Capital, its main stakeholder since 2013, to sell its shares, opens an opportunity for new ownership. Founders Will Beckett and Huw Gott maintain minority stakes as they navigate through this transitional phase.
Hawksmoor’s remarkable growth and strategic expansion set the stage for a promising future amid ownership changes.
