Yahoo Finance Hawksmoor restaurant chain reportedly looking for buyer
Hawksmoor’s owners have put the high-end chain of steakhouses up for sale in a deal that could value the restaurant at £100m, three years after the restaurant was said to be exploring an IPO.
Since its founding in 2006, Hawksmoor has been a mainstay of the UK dining scene, with seven restaurants in London and others in Edinburgh, Liverpool, and Manchester.
Since 2013, the chain has been majority-owned by private equity firm Graphite Capital, which, according to the Financial Times, has instructed the US investment bank Stephens to run a sales process.
Graphite Capital has owned 51 per cent of the chain since 2013.
Hawksmoor chief executive and co-founder Will Beckett and another co-founder Huw Gott, who both own a minority stake, will reportedly retain their holdings.
Stephens is said to have already started speaking to potential buyers three years after the firm was believed to be exploring a potential IPO.
Hawksmoor is believed to be seeking to grow the firm’s fledgling international operation. In the last three years, it has set up steakhouses in New York, Chicago, and Dublin.
Founders Will Beckett and Hugh Gott, who set up the firm after working in bars and kitchens in east London, will retain their minority stake and remain at the helm of the firm as it plots international success.
Hawksmoor’s steaks have been a hit with patrons since the chain gained a foothold in London’s dining scene, drawing rave reviews from the likes of Giles Coren. The Times’ restaurant critic described the food at the chain’s Seven Dials restaurant as “great, great steak. Best you’ll find anywhere”.
Will Beckett commented: “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.”
Stephens and Graphite Capital were contacted to comment. Hawksmoor declined to comment.
