Rhubarb Hospitality Collection to expand in Germany

Restaurant and catering company Rhubarb Hospitality Collection (RHC) is to expand into Germany this year following a review of its portfolio.

The group, whose food and beverage partnerships include London's Royal Albert Hall and Sky Garden (pictured), has signed its first contract in Hamburg.

RHC will be the anchor partner at the Westfield Hamburg-Überseequartier retail, leisure, residential and office scheme when it launches in April.

It will open 1,300 sq ft South American-inspired restaurant Elemente on the first floor of an office building, as well as 13th floor Air Bar, connected to a panoramic terrace.

Filings for holding company RHC Topco Limited show Rhubarb underwent a review of its contracts in 2022, which led to its decision to expand into Europe.

Rhubarb already operates Frederick's bar at the Sony Centre in Berlin and the Hamburg contract was signed in 2023.

Rival caterer Compass Group also stepped-up its expansion into Germany last year after acquiring fresh-frozen food specialist Hofmann-Menü Holdings for an estimated £237m.

Rhubarb has been trading for more than 25 years and operates restaurants, bars and event spaces across London, New York, and Berlin.

The business was bought by US stadium operator Oak View Group for over £100m last May, which saw it repay around £50m of debt.

Companies House filings show that as part of the change in control bank debts consisting of a £35m unitranche facility, an £8m acquisition facility and loan notes and interest of £8.4m were repaid in full.

According to RHC Topco Limited's accounts, Rhubarb's pre-tax losses widened from £7.6m in 2021 to £11.4m in 2022. However, EBITDA rose fivefold to £10.9m and turnover jumped from £43m to £105.5m.

Chief financial officer Laraine Beament wrote the accounts: "The directors are pleased with the group's results for 2023 and are confident that the strong performance and significant new contracts won in 2022 will provide foundations for further growth in 2023 and beyond."

During 2023, Rhubarb opened Italian restaurant Larch at London's Sky Garden and was appointed food and beverage partner at the 50-storey 8 Bishopsgate office tower in the City of London.

Wild Ink, one of the group's New York-based restaurants at Hudson Yards, had its lease terminated at the end of 2022.