Hawksmoor, the steakhouse chain, has experienced a surge in both sales and profits during its latest financial year, positioning the company for a potential sale that could see it valued at £100m.
The firm headquartered in London posted an impressive turnover of £89.7m for the year 2023, a sizeable increase from the prior year's £73.9m, as reported by .
According to new accounts filed with Companies House, Hawksmoor also enjoyed a significant leap in pre-tax profit, which soared from £282,000 to £1.49m over the same period.
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Expanding beyond its seven London venues, Hawksmoor has established eateries across the 海角视频 in Edinburgh, Liverpool, and Manchester, as well as international footprints in Dublin, New York, and Chicago.
In 2023, the company grew its employee base from 921 to 1,173.
The boost in Hawksmoors turnover is attributed to heightened like-for-like sales and strategic openings of new restaurants in Liverpool during November 2022, followed by another addition in Dublin come May 2023.
Moreover, after closing its books on the financial year, Hawksmoor ventured into the Chicago market. The company anticipates further expansion within the US, with several new restaurant launches earmarked for the year 2025 and onwards.
The board released a statement asserting, "The group has built an industry-leading brand, with highly profitable sites... strong cash generation and an excellent reputation with customers and staff which the directors believe will position it for success."
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The statement continued, stressing the company's robust finances: "The group has a strong cash position and has access to additional debt facilities as required."
Highlighting the unprecedented performance, the board noted: "The restaurants are trading at record levels of sales and profitability."
The upmarket steakhouse chain Hawksmoor is on the market following a decision by private equity firm Graphite Capital to sell its stake. As the majority owner since 2013, holding 51% of the business founded in 2006, Graphite Capital is now looking for buyers.
The chain's founders, chief executive Will Beckett and Huw Gott, retain minority stakes. In an interview with City AM back in September, Beckett revealed that the search for new ownership was ongoing but had "not at fruition yet".