British upmarket steakhouse chain Hawksmoor has been placed on the market with a potential valuation of £100m ($127.5m), the Financial Times has reported.
The sale process is being managed by investment bank Stephens, which has initiated discussions with prospective purchasers.
Graphite Capital has held a 51% stake in the business since 2013.
The leadership of Hawksmoor, including chief executive and co-founder Will Beckett and co-founder Huw Gott who both hold minority stakes, is set to remain intact to steer the company's future.
Graphite Capital refrained from commenting on what it termed "market rumour," and Stephens also declined to respond to the reports.
Speaking to the Financial Times, Beckett said: “We’ve got a great relationship with Graphite, and together we are getting to know the US investment community in more depth. As that continues, an opportunity may emerge that we wish to explore together.”
The sale comes as Hawksmoor is broadening its international reach, having recently inaugurated a new location in Chicago.
This follows the opening of their first US restaurant in New York in 2021 and a new venue in Dublin in 2023.
Hawksmoor, which began in 2006 in East London, has projected sales to surpass £100m in 2024, with sustained like-for-like growth.
The company's underlying profits for the 12 months leading up to June 2024 were above £10m, with ambitions to further expand in the US market.
In 2021, Hawksmoor postponed plans for an initial public offering due to the volatile hospitality sector environment, impacted by Covid-related lockdowns, labour shortages and supply chain issues.
The chain had been collaborating with the Berenberg Private Bank on the flotation.
Despite grappling with economic challenges such as mounting inflation and a crisis in the cost of living, the UK hospitality sector has experienced noteworthy transactions.
Prominent deals include Apollo's acquisition of The Restaurant Group, owner of Wagamama, for £506m, and Zensho's purchase of Snowfox Group, the parent company of Yo! Sushi, for £490m.
In early 2024 Equistone Partners sold its stake in CH&CO to Compass in a £475m deal.
