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the UK marketplace for company sales

Independent restaurant group

Reference
S11439
Turnover
£10m to £25m
Sector(s)
Hotels & restaurants, Leisure
Region(s)
East of England, East Midlands, London, North East England, North West England, Scotland, South East England, South West England, Wales, West Midlands, Yorkshire and the Humber, UK Wide
Added
12 March 2024

Business description

Project Eyre is a leading independent restaurant Group operating over 17 sites UK wide with an exceptional brand and reputation.


The Group has an impressive track record of organic growth, underpinned by an industry leading team with ambitious expansion plans for the future.

Project Eyre represents an excellent opportunity for an ambitious acquirer looking to build on the Group’s strengths and realise its significant growth potential.

Highlights

  •  The Group is renowned for quality, with exceptional concepts tailored to its loyal following of customers across 17 UK wide locations 
  • Highly competent and experienced team which has overseen the steady expansion across the UK
  • Market leading engagement scores across all marketing channels representing a brilliant foundation for growth for any buyer to build upon and catapult to the next level.

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2021 (Actual) 7,327 1,375
2022 (Actual) 11,880 1,122
2023 (Actual) 18,977 2,126
2024 (Forecast) 19,970 2,168
2025 (Forecast) 22,369 2,472

The Group operates with a strong and sustainable gross margin of 63% and a normalised EBITDA of £2.126m for the 12 months ended 31st December 2023.

The significant growth in revenue and ongoing forecast growth highlights the scalable nature of the business model.

Opportunities

  • Building on the momentum from the existing roll out, opportunity exists to further expand the geographical footprint across the UK, benefitting immediately from the bespoke research and work undertaken by management to develop the pipeline of sites that exists.
  • With sister brand trademarks in place, the Group is well poised for diversification and expansion into new markets.

Reason for sale

Offers are invited for the entire share capital of the Group. The decision to sell follows the shareholders’ decision to seek an ambitious new owner who can build on Eyre’s strengths and realise the Group’s significant growth potential.

Additional information

Significant opportunity exists to support growth, with the Group’s financial performance solidly underpinned by its exceptional reputation, award winning team and long-standing track record of success in the sector.

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