CÔTE Mention Côte to your average restaurateur and the French brasserie brand is likely to prompt either outpourings of admiration or expressions of jealousy – possibly both. Vaunted throughout the sector for its abil- ity to offer high-quality food and service at a keen price point, its co-founder Andy Bas- sadone, who started the business alongside Chris Benians and Nick Fiddler in 2007 with the backing of restaurateur Richard Caring, was last year recognised for its success when he won the Group Restaurateur of the Year Catey at a glittering ceremony at London’s Grosvenor House. Since then, Caring has sold his 51% stake to private equity company CBPE Capital. CBPE is backing joint managers Harald Samuelsson (above right) and Alex Scrim- geour (above left) to expand the chain, which now has in excess of 50 sites. With growth of 10 sites a year planned,


Côte is now moving beyond its heartlands in London and the South East. Having acquired its first site in the North in York last year, and having opened its first site in Man- chester earlier this year, it is well on the way to becoming a brand with a truly national presence.


Number of sites 54 Owner CBPE Capital Managing directors Harald Samuelsson and Alex Scrimgeour Year founded 2007 Turnover £64.7m (year to 28 July 2013) EBITDA £12.8m (year to 28 July 2013)


www.thecaterer.com


GIGGLING SQUID Giggling Squid, founded by husband and wife team Andy Laurillard and Thai-born business graduate Pranee Laurillard, is one of a number of burgeoning Thai restaurant groups on a mission to create a scaleable brand.


The company started life in 2009 and has since grown to 10 sites, as far south as Brigh- ton and as far north as Stratford-upon-Avon. The Laurillards hope to hit 18 by the end of next year and have recently switched banks from HSBC to Barclays and doubled the brand’s loan facility to £2m to support its pipeline for the next 18 months.


While not as mainstream as Spanish or Italian food, there are still estimated to be 1,600 Thai restaurants in the UK. Almost all of these are independents, but Andy Lauril- lard, believes there is space for one or two national operators in the future – this despite the fact it is admittedly harder to hit decent gross profit with Thai food, due to its com- plexity and use of imported ingredients. Restrictions on immigration, making it hard to recruit the number of Thai chefs needed to sustain growth, may also act as a business constraint. However, the Laurillards are not alone in their quest to create a national brand. Among other growing groups are: Busaba Eathai, founded by Alan Yau and Jale Erentok; Koh Thai Tapas; Rosa’s; and Thai Leisure Group, owner of Chaophraya, which has big plans for its nascent casual-dining brand Thaikhun.


Number of sites 10 Year founded 2009 Founders Andy and Pranee Laurillard Average spend per head £25 evenings, £12-13 lunch Turnover +93% on 2013 (amount undisclosed) Profits +123% on 2013 (amount undisclosed)


13


LOUNGERS


Loungers is one of hospitality’s real success stories of recent years. Founded by friends Alex Reilley, Jake Bishop and Dave Reid in 2002, the business started life as one small Bristol restaurant with just 10 tables. Fast forward just 12 years and Loungers


has now hit 50 sites thanks to a clever busi- ness model that involves opening sites in densely populated suburbs and secondary high streets.


These locations – often unfancied by other


operators – have become hubs of the local community and Loungers is careful to cre- ate venues that feel unique to their local area, giving each a different name.


The businesses are also hard to pigeon- hole. Trading all day, they retain aspects of what could be described as a pub or bar, but also function as a café and restaurant, with trained baristas, alcohol and food from a daily rolling menu all on offer. It was this innovative, flexible approach that earned Reilley the title of winner of the Pub and Bar Award at the 2014 Cateys. Along with its pre- mium Cosy Club brand, Loungers already has sites spread across the country. With the backing of private equity firm


Piper, Reilley has ambitious plans for the brand, claiming recently that it can “easily” grow from its current base of 50 sites to 350.


Number of sites 50 Managing director Alex Reilley Year founded 2002 Turnover £33.7m (year to 27 April 2014) EBITDA £4.4m (year to 27 April 2014)


September 2014 | Restaurant Insight Report

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