Fazenda Group, the premium rodizio bar and grill operator, has reported a record year as sales surpass £27m.
The South American-inspired restaurant group saw record year-on-year growth of 34.4% in 2023, fuelled by the launch of its first London restaurant, as well as strong regional performances.
Closing the financial year with group-wide record-breaking sales and year-on-year growth, Fazenda’s regional sites saw an increase in like-for-like sales of 13%.
The performance demonstrates opportunity for growth for the brand nationwide, and the brand is ”actively looking for opportunities within London and mainland Europe,” according to chief executive, Terence Langley.
Fazenda opened its first restuarant in the capital in July last year, with its rodizio meats concept alongside small plates and a sharing menu. It joined the Huddesfield based business’ existing sites in Leeds, Manchester, Birmingham, Edingburgh and Liverpool.
Co-founder and managing director Tomás Maunier added, ‘It was a very challenging but rewarding year for us. Opening our first London site was a monumental step, particularly during a period marked by inflation rates double that of the consumer price index and notable wage hikes. Despite the pressures faced, we experienced a tremendously positive year across the board.
”The ongoing cost of living crisis has undoubtedly influenced consumer behaviour, yet our results demonstrate that Fazenda is resilient. I believe our commitment to value for money and quality resonates strongly with our guests, even in tough times.’
