New acquisition and investment vehicle Hestia Hospitality has launched today with its first acquisition, sustainable restaurant concept Native.
The business is targeting further acquisitions and consolidation opportunities, as well as organic growth opportunities. It has initially raised £50m to acquire premium multisite hospitality businesses which it considers to have significant growth potential.
Hestia has a three-year target to reach revenues of £100m and the aim of becoming the UK’s leading hospitality group focused on premium and high-end experiences.
The company is led by an experienced management team, with Andrew Fishwick as CEO, and backed by private high net worth individuals and a collection of family offices.
The team also includes CFO Paul Helmsley, former group finance director of The Innovation Group; non-executive chair Simon Esner, co-founder of WSH Ltd – previously one of the UK’s largest companies, with brands including Benugo, Searcy’s, and BaxterStorey; and non-executive director Steve Smith, who advised on transactions during nearly three decades at Morgan Stanley.
Special advisors include Justin King CBE, former Sainsbury’s CEO and current non-executive director of M&S and itsu; Richard Wassell, founder of twentyretail and former chair of the Restaurant Property Advisors Society.
Hestia recently completed the acquisition of Native, the farmhouse restaurant concept founded by Ivan Tisdall-Downes and Imogen Davies that pioneers sustainability and ethical dining. Native – which formerly operated at Brown’s in Mayfair until its closure last year – will open a new site at the Michelin-starred Pensons at Netherwood in May.
Hestia has also completed three other initial investments, to be announced shortly.
The group’s management team will work with each brand to fulfil their growth potential. Leveraging learnings from across its brands, Hestia will also enable the sharing of best practices as they collectively contribute to the group’s vision of creating world-class consumer experiences.
Andrew Fishwick, CEO of Hestia, said: “This funding round is a resounding endorsement of our thesis that there has never been a better time to invest in our sector. There are exceptional businesses with outstanding entrepreneurs and management teams behind them that need the support to grow to their full potential. Hestia is designed to be the antithesis of Private Equity; it is designed to nurture and facilitate sustainable growth and development, whilst maintaining excellence and keeping the customer experience at the front and centre of everything we do.”
