Hawksmoor for Sale Restaurant Chain Valued at £100 Million

03 Jul, 2024

Hawksmoor for Sale Restaurant Chain Valued at £100 Million

The high-end steakhouse chain Hawksmoor has been put up for sale in a deal that could value the business at around £100 million. Founded in 2006 by Will Beckett and Huw Gott, Hawksmoor has grown to 13 locations, including three outside the UK. Recent expansions include its first restaurant in Chicago, alongside sites in Dublin and New York.

To facilitate the sale, Hawksmoor has hired investment bank Stephens to seek potential suitors, aiming to further expand its overseas operations. Graphite Capital, which has owned a 51% stake in Hawksmoor since 2013 following a £35 million investment, supports the sale process. Beckett, the current chief executive, and Gott will retain their minority stakes post-sale.

Beckett highlighted the positive relationship with Graphite and their joint efforts to engage with the US investment community, suggesting potential new opportunities. Despite not commenting directly on the sale, Beckett expressed optimism about future growth.

Hawksmoor's turnover for the 12 months up to April reached £90 million, a 20% increase from the previous year, with underlying profits above £10 million as of June. The move to sell follows several high-profile sales in the restaurant sector and comes three years after Hawksmoor abandoned plans to float on the London Stock Exchange due to industry uncertainties.