Hawksmoor explores sale to aid international expansion
It is understood that investment bank Stephens has been appointed to run the sale process, and has already begun talking to potential buyers
Hawksmoor has reportedly begun exploring a sales process that could value the restaurant group at roughly £100m in a bid to grow its international presence, according to The Financial Times.
It is understood that investment bank Stephens has been appointed to run the sale process, and has already begun talking to potential buyers.
Private equity firm Graphite Capital has owned 51% of Hawksmoor since 2013.
The outlet said Hawksmoor’s CEO and co-founder Will Beckett, along with another co-founder Huw Gott, own a minority stake and intend to retain their shareholding after the sale to lead the company.
While the restaurant chain did not comment on whether the sale process is underway, the FT revealed Beckett said in a statement: “We’ve got a great relationship with Graphite, and together we are getting to know the US investment community in more depth. As that continues, an opportunity may emerge that we wish to explore together.”
The news comes as Hawksmoor continues to expand abroad, having opened in Chicago last week. The group first entered the US with a New York location in 2021.
Last week, the group said it expects to top £100m this year with “consistent like-for-like growth”. Meanwhile, according to a person close to the company, underlying profits for the 12 months to the end of June were above £10m.
Graphite Capital reportedly told The Financial Times it does not comment on “market rumour” while Stephens declined to comment.