This month Turtle Bay was unveiled as the fastest growing company in the eating and drinking out sector, according to the AlixPartners Growth Company Index, compiled in association with MCA. However, there are other operators making waves that haven’t made it on to the list for one reason or another. Mark Wingett provides a snapshot of five that are jostling for a listing.
The five operators below missed out on this year’s AlixPartners Growth Company Index, which tracks companies with the fastest growing profits in the UK’s eating and drinking-out sector, by falling outside the scope of the methodology. However, they could re-enter or make their bows next year.
Banana Tree
Sites: 9
Latest turnover: £9m
Growth: 9.5%
Key personnel: Co-founders Anne and
William Chow
Backer: Privately funded
Background: South-east Asian group Banana Tree hopes to add a further site to its eponymous brand before the end of the year, after securing a site in Chelmsford. The group, which reported a 12.5% increase in turnover to £9m, in the year to 30 April 2016, will open its latest site in Chelmsford’s High Chelmer development. Anne Chow told MCA the company was looking at one more site for 2017, but nothing was confirmed. Regarding new investment, she said: “We regularly get approached by investors that are interested in the business but we’re focusing on ensuring trading remains buoyant across all our sites.” Will Chow told MCA late last year his original concept still had “enormous potential” for growth in the UK.
Crussh
Sites: 27
Latest turnover: £13.9m
Growth: 9.2%
Key personnel: Chief executive Shane Kavanagh; chairman Jonathan Hart
Backer: Hattington Investment Partners
Background: Crussh, the raw juice and fit food brand, is undergoing a refresh programme under new chief executive Shane Kavanagh as it looks to evolve its offer across its London-based estate. At the end of 2016, the company unveiled its new site near Chancery Lane. The company invested c£350,000 on the new store, which comes complete with new brand identity. Kavanagh believes there are “significant opportunities” to grow in London. He said: “London is full of opportunities, we’re still quite patchy, with places we don’t have a presence where we think we could add value. There’s exciting potential out there; when the right opportunities come up, we’ll move out.”
ETM Group
Sites: 12
Latest turnover: £22.9m
Growth: 9.4%
Key personnel: Founders Tom and Ed
Martin; chairman Graham Turner
Backer: Privately funded
Background: ETM Group, the independent bar, pub and restaurant company, recently strengthened its management team with the appointment of Graham Turner. Turner is the third recent ETM senior management appointment following Sam Bourke (ex-TRG) as the group’s new marketing director and Landen Prescott Brann (ex-Itsu) as its new chief financial officer. In January, the company put its Canary Wharf site on the market. The sale of the site will leave the group with a 12-strong estate, which includes the recently opened flagship site, Greenwood, which has exceeded all trading forecasts. The 11,000sq ft, two-storey pub and restaurant, in Victoria’s new Nova development, includes a brow/lashes bar and barbershop as well as an upstairs sports lounge and 80-cover alfresco seating area.
Inception Group
Sites: 9
Latest turnover: £10.6m
Growth: 9.8%
Key personnel: Co-founders Charlie Gilkes and Duncan Stirling
Backer: Privately funded
Background: The London-based restaurant, bar and club operator, is currently eyeing a rollout for its Bungatini format and is planning further tweaks to its Squirrel healthy-eating concept. Bungatini – a family-friendly, all-day dining version of its Bunga Bunga pizzeria, launched at the end of last year in Drury Lane. It was quickly joined by a second iteration for Bunga Bunga in the basement of the building. Gilkes said: “Bungatini allows us to retain some of the essence of Bunga Bunga but gives us more scope. It’s a bit more grown-up and it allows us to make the most of the high footfall
during the day.”
Rosa’s Thai Cafe
Sites: 8
Latest turnover: N/A
Growth: N/A
Key personnel: Co-founders Alex and Saiphin Moore
Backer: Privately funded
Background: The London-based, Thai café brand, has lined up a further three openings in London for 2017, and recently embarked on its first trial site with Deliveroo’s RooBox scheme. The company, which recently launched in Brixton, has secured further openings for this year in Earlham Street, Seven Dials; West Hampstead; and at the One Tower Bridge development. MCA revealed in September that the company had received approaches from private equity firms but intended to wait until its EBITDA run rate reached £3m before considering taking on outside investment. The group plans to open in the regions eventually.
