Hawksmoor, the upscale steakhouse chain, has reported impressive financial growth and is eyeing a £100m valuation amid record sales.
- The London-based chain saw its turnover rise to £89.7m in 2023, up from £73.9m in 2022.
- Pre-tax profits surged from £282,000 to £1.49m, highlighting a strong financial performance.
- The chain continues its expansion, with new locations in Liverpool, Dublin, and Chicago.
- Graphite Capital has put Hawksmoor up for sale, sparking interest in new ownership.
Hawksmoor, a prominent steakhouse chain, has seen significant financial improvements during its recent fiscal year, setting the stage for a potential market valuation of £100m. The company, based in London, revealed a remarkable turnover increase to £89.7m for 2023, compared to £73.9m the previous year. The financial upturn is supported by newly filed accounts with Companies House, which indicate a jump in pre-tax profits from £282,000 to £1.49m.
In addition to London, Hawksmoor has expanded its presence with restaurants in several UK cities, including Edinburgh, Liverpool, and Manchester. Internationally, the steakhouse has ventured into Dublin, New York, and Chicago. During the last year, the company saw its workforce grow from 921 to 1,173 employees. This growth is attributed to elevated like-for-like sales and strategic openings, such as those in Liverpool in November 2022 and Dublin in May 2023. Further expansion into Chicago occurred post-financial year, with plans for new U.S. locations in 2025 onward.
In a statement, the board highlighted Hawksmoor’s strong industry position: “The group has built an industry-leading brand, with highly profitable sites and strong cash generation.” The robust financial health of the company is reflected in its ability to generate cash and access additional debt facilities when needed. The directors expressed confidence in the chain’s continued success, noting record levels of sales and profitability.
Graphite Capital, the private equity firm holding a majority stake in Hawksmoor since 2013, is seeking buyers after putting its share of the company on the market. Founders Will Beckett and Huw Gott maintain minority stakes in the business. As reported, the search for new ownership is ongoing, although final agreements have yet to be reached.
Hawksmoor’s financial growth and strategic expansion underline its readiness for a potentially lucrative sale.
