Giraffe to open first international site in Dubai
High-street restaurant chain Giraffe is to open its first international site this year and plans to continue to expand its brands across the UK.
The company, which currently operates 47 outlets across the UK, has up to six new sites in the pipeline for 2012 as well as its first international restaurant, which will open in Dubai as part of a franchise deal with Emirates Leisure Retail (ELR).
Giraffe, which recently launched its first grab-and-go brand Giraffe Stop at King's Cross station, opened four restaurants in the past financial year in Bath and Chelmsford and in the Meadowhall and Westfield Stratford shopping centres.
The company has reported earnings before interest, taxes, depreciation, and amortization of £4m for the year to 25 March, with turnover up 18% from £34.4m to £40m.
Chairman Luke Johnson said it was another strong performance from the Giraffe business. "Despite the continued growth in restaurants, there remain many well-populated towns, cities and leisure parks that Giraffe plan to serve over the coming years," he said. "We continue to enjoy a loyal following as a result of a great value menu and legendary customer service."
Managing director Russel Joffe added: "We are excited about the opportunities that the deal with ELR will present over the coming years. We are now almost at 50 UK sites. Our key focus this year is to recruit and retain the best industry talent to support and underpin our continued expansion, both nationally and internationally."
Giraffe is owned by Russel and Juliette Joffe and Andrew Jacobs with backing from Risk Capital Partners (RCP) and 3i. RCP is the entrepreneurial private-equity firm founded by Johnson, which backed Giraffe in 2004 when the group had just seven sites.
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By Kerstin Kühn
E-mail your comments to Kerstin Kühn](mailto:kerstin.kuhn@rbi.co.uk) here.
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