International restaurant group Hawksmoor is up for sale in a deal that could value the chain at £100m. The steakhouse chain has hired investment bank Stephens to oversee the sales process and find a suitable buyer.
This news comes just one week after the opening of Hawksmoor’s Chicago restaurant, which joins sites in London, Dublin and New York, and forms part of the group’s plan to continue overseas expansion.
Hawksmoor was founded by Will Beckett and Huw Gott back in 2006, with the pair opening the first location in Spitalfields. Nowadays, it has a total of 13 locations across the globe.
A majority stake was bought by private-equity group Graphite Capital back in 2013 who paid £35m for 51% ownership of the group. Beckett, the current chief executive, and Gott, who holds a minority share in the group, will retain their shareholding following a sale.
Hawksmoor has not directly commented on the rumours of this sale, however co-founder Beckett stated: ‘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.’
Known for its menus or high-quality steaks, Hawksmoor’s sales are expected to top £100m for the past year. The Financial Times, who first reported this investment process, states that someone close to the company predicted profits of over £10m for the past 12 months, with future plans to continue its expansion across the United States.
Looking for somewhere to grab a steak? Why not get a table booked at Hawksmoor, with locations in London, Edinburgh, Liverpool and Manchester.
