Dishoom, the UK chain of Irani style Bombay cafes of the 1960s, has been valued in the region of £300m, after striking an investment deal with a firm backed by LVMH.
The restaurant chain has agreed a deal for an undisclosed sum with US-based L Catterton in a move which will see founders Shamil Thakrar and Kavi Thakrar dilute their stakes.
Both co-founders are expected to stay in their current roles alongside CEO Brian Trollip and the executive team.
The investment comes ahead of Dishoom opening a new US location next year.
In its most recent set of financial accounts, for 2023, Dishoom’s turnover totalled £116.8m, up from £94.9m, having created almost 300 jobs. Pre-tax profit rose from £4.7m to £7.4m. The company issued a dividend of £9.8m for the year, up from the £3.7m.
Dishoom was founded in 2010 by the Thakrar siblings, along with Amar and Adarsh Radia, who both left the business in 2017.
Shamil Thakrar said: “As ever, even more important than growth and expansion is keeping our focus strongly on deepening our hospitality – on providing guests with the most delicious food and the warmest service in beautiful restaurants and continuing to make sure Dishoom is one of the very best workplaces in hospitality.”
The majority of Dishoom’s restaurants are based in London while others are located in London while others are located in Birmingham, Brighton, Cambridge, Edinburgh, Manchester and Oxford.
Author: George Shaw
Former BBC journalist and founder and CEO of an award-winning London advertising and PR company for 20 years, providing restaurant consultancy services. Spent a decade as the director of communications of the Asian Catering Federation in the UK and lead judge for its various restaurant and chef awards programmes. Now returned to journalism, specialising in food and travel and currently the Editor-in-Chief for Taste London, Taste Asia, the Good Curry Guide and CEO of International Culinary Guides.