White Rabbit Projects secures multi-million-pound investment

Hospitality concept incubator White Rabbit Projects has secured a multi-million-pound investment from the backer of bakery chain Gail’s.

Private investment firm McWin, which also backs Italian chain Vapiano and meat substitute brand Impossible Foods, is understood to have invested tens of millions of pounds.

It will boost White Rabbit’s development platform for early-stage hospitality businesses and allow it to focus on backing new operators.

White Rabbit was founded in 2016 by former Soho House commercial director Chris Miller and supports UK brands including Kricket, Lina Stores (pictured), and Island Poke.

It also develops and runs bespoke hospitality concepts for hotels and landlords and now employs over 900 staff across 52 sites.

Miller said: “The hospitality industry provides so much for so many people, from great times to great careers. It is a tragedy that a sector so economically necessary and universally loved has faced nothing short of decimation in recent years...the sad reality is that this will only get worse in the coming downturn. We will lose swathes of operators as the recession bites.

“Perhaps the only good news is that recessions can bear fruit with careful management. Some of the world’s most-loved hospitality brands were born of downturns. This investment allows us to continue our success in identifying and supporting the next wave with our unique platform approach.”

Steven K. Winegar, co-founder of McWin, said the investment showed the group’s ambitions to become a “dominant player” in the European restaurant sector.

McWin was founded by Winegar and Henry McGovern, who Is also behind hospitality giant AmRest Holdings SE.