Dishoom has commanded a valuation of roughly £300 million following a strategic investment partnership with an LVMH-backed firm.
The popular restaurant chain has sealed a deal for an undisclosed amount with US investment house L Catterton, which will see founding brothers Shamil Thakrar and Kavi Thakrar reduce their ownership stakes, as reported by City AM.
Both co-founders are set to remain in their current positions alongside Chief Executive Brian Trollip and the wider management team.
The funding arrives as Dishoom prepares to launch its debut American outpost in 2026.
According to its latest financial filings for 2023, Dishoom’s revenues climbed to £116.8 million from £94.9 million, whilst generating nearly 300 new positions.
The improved turnover also boosted the company’s pre-tax profits from £4.7 million to £7.4 million.
The firm distributed dividends of £9.8 million for the period, a significant jump from the £3.7 million paid out in the previous year.
The accounts covering the chain’s latest financial period are due to be submitted to Companies House before the end of September.
Established in 2010 by siblings Shamil and Kavi Thakrar alongside Amar and Adarsh Radia, the latter pair departed the venture in 2017.
Dishoom founder ‘thrilled and excited’
Shamil Thakrar commented: “We are thrilled to be partnering with L Catterton, and excited about the future of the business.”
“It is wonderful to be contemplating the international opportunities ahead of us.”
“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.”
“And of course, this is only possible because of our amazing teams, who give their all every day to make Dishoom what it is.”
The majority of Dishoom’s restaurants are based in London, with additional locations in Birmingham, Brighton, Cambridge, Edinburgh, Manchester and Oxford.
The company is also planning to open a site in Liverpool.
L Catterton partner Miray Topay expressed enthusiasm about the partnership: “We are absolutely delighted to be partnering with Dishoom.”
“What the team has created is a truly exceptional business by all measures, whether judged on stand-out food, warm and caring service, a unique and amazing culture, enduring popularity with queues outside every one of its locations, or the very many awards and accolades that Dishoom has won.”
Topay also shared future aspirations: “We look forward to supporting Shamil, Kavi, Brian and the team as they continue to grow the business in the UK and beyond.”
“We look forward to leveraging our deep understanding of consumers and our experience in the restaurant industry to support Dishoom as they expand, and allow more people to experience their wonderful and distinct hospitality.”
