Concerto Group tops list of top 20 fastest growing UK foodservice firms
The Concerto Group has topped a list of the top 20 fastest growing foodservice operators in the UK, according to research compiled by Zolfo Cooper.
Caterers Vacherin, Harbour & Jones and Peyton & Byrne were snapping at Concerto Group's heels in the report published today in collaboration with En Passant.
Four key players were also listed as Zolfo Cooper's "Ones to Watch" in 2014, and named as "highly influential in the sector". These were Fabulous Feasts, which was co-founded by Jamie Oliver; CH&Co; Brookwood Partnership and the Lindley Group.
The research looked at the compound annual growth rate (CAGR) over three years of independent UK operators with annual turnover of at least £8m and profit of £500,000.
The Concerto Group, which turns over £31m a year, saw a three-year CAGR of 65.3%. Vacherin has an annual turnover of £10.9m and its CAGR was 58.1%. Harbour & Jones's latest turnover reached £30.8m, with a CAGR of 55.2%, while Peyton & Byrne saw £20m turnover and a CAGR of 51.8%.
Zolfo Cooper partner, Graeme Smith, attributed the success of the top-growing companies to their innovation and adaptability in the face of rising consumer expectations and the increased "blurring of the lines" between foodservice and leisure.
Highlighting CH&Co's investment in coffee chain Apostrophe, and BaxterStorey's acquisition of high-end sandwich shop Benugo, Smith also said that smaller foodservice companies could look forward to increased success and higher levels of investment.
Writing in the report, he said: "People are becoming more discerning in their choice of food retailer in everyday life… consumers expect more but are also more accustomed to paying a premium if they believe they are getting value. This creates new demands and pressure on the traditional foodservice operator [and] this shift in the market has created an opportunity for smaller, innovative brands to grow their businesses."
He added: "We would expect this investment appetite to grow in the coming years as companies and investors respond… which offers the potential for new sector champions to emerge."
Top 20 fastest growing foodservice companies in the UK, from the Foodservice Growth Report
- Concerto Group
- Harbour & Jones
- Peyton & Byrne
- Unique Catering & Management Services
- Independent Catering
- Thomas Franks
- Catering Academy
- Wilson Vale Catering
- The Good Eating Company
- Elior UK
- Host Management
- Alliance in Partnership
- Best Parties Ever
- Lexington Catering
- Harrison Catering Services
- Westbury Street Holdings (WSH)
- Company of Cooks
- ABM Catering Facilities Management