Hawksmoor Listed for Sale in Potential £100M Valuation Deal

Hawksmoor sale

Hawksmoor, the high-end steakhouse chain, is on the market in a deal that could value it at approximately £100m.

The restaurant chain has engaged investment bank Stephens to seek potential buyers, aiming to expand its international presence.

Founded in 2006 by Will Beckett and Huw Gott, Hawksmoor has grown to 13 locations, including three outside the UK. Recently, it opened its first restaurant in Chicago, adding to its existing sites in Dublin and New York.

Graphite Capital has owned a 51% stake in the company since 2013, after investing £35m to support a management buyout by the founders.

According to the Financial Times, the investment process will see Beckett, the current chief executive, and Gott, who owns a minority stake, retain their shares following the deal.

While Hawksmoor has not commented on the sale, Beckett remarked, “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.”

Beckett and Gott launched the first Hawksmoor restaurant in Spitalfields, east London, in 2006, followed by openings in Covent Garden in 2010 and the City of London in 2011.

Recently, Hawksmoor reported a turnover of £90m for the 12 months up to April, a 20% increase from the previous year. A source close to the company indicated that underlying profits exceeded £10m by the end of June.

This move comes three years after Hawksmoor abandoned plans to float on the London Stock Exchange, citing industry-wide uncertainties due to supply chain disruptions and labor shortages post-pandemic lockdowns.

The potential sale follows several notable restaurant chain transactions in the past year.

The Restaurant Group, which owns Frankie & Benny’s and Wagamama, went private in October after accepting a £506m takeover offer from the US buyout group Apollo. In April last year, Fulham Shore, the owner of The Real Greek and Franco Manca, was acquired by the Japanese restaurant operator Toridoll in a deal worth £93m.

The potential sale of Hawksmoor arises amid a challenging period for the broader restaurant and pub industry. Last month, UKHospitality reported that between 2021 and 2023, 22,859 businesses in the sector closed, while only 11,734 opened.

Graphite Capital has stated that it does not comment on market rumors.


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