Dishoom served huge valuation after founders sell stake
Dishoom 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 roles alongside CEO Brian Trollip and the rest of the executive team.
The investment comes ahead of Dishoom opening a new US location in 2026.
In its most recent set of financial accounts, for 2023, Dishoom’s turnover totalled £116.8m, up from £94.9m, while it created almost 300 jobs.
Its higher turnover also helped the business up its pre-tax profit from £4.7m to £7.4m.
The company issued a dividend of £9.8m for the year, up from the £3.7m it paid out in the prior 12 months.
The accounts for the chain’s most recent financial year are expected to be filed with Companies House by the end of September.
Dishoom was founded in 2010 by Shamil and Kavi Thakrar, along with Amar and Adarsh Radia, who both left the business in 2017.
Dishoom founder ‘thrilled and excited’
Shamil Thakrar said: “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 while others are located in London while others are located in Birmingham, Brighton, Cambridge, Edinburgh, Manchester and Oxford.
L Catterton partner Miray Topay added: “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.
“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.”