The Company’s strategy is to purchase, operate and expand businesses in the restaurant and food service sectors, which are profitable and/or which, in the Directors’ opinion, have attractive growth potential. The Company may also aim to establish and develop or invest in new restaurant concepts. In addition, the Directors expect that they will be approached with restaurant opportunities, as a result of Fulham Shore being a public company. These type of business would benefit from strategic, operational and funding support in their growth phase and/or future access to the capital markets.
The Directors intend to use their collective experience to identify appropriate investment opportunities for the Company in the UK. Fulham Shore’s initial geographical focus is on Central London and its suburban districts. Further target towns and cities will be identified as each brand grows.
It is the intention of the Directors to build a number of small, local brands. It is not the strategy of Fulham Shore to acquire large, national restaurant chains. Therefore, the Directors will seek to build a diversified portfolio of a number of investments in the sector, although investment may be limited to one business at any given time depending on the stage of the Company’s development and the resources and opportunities available to it. The Company will typically seek to take controlling stakes in businesses but minority investments may also be considered for a particularly strong investment case.
The Directors’ particular focus will be on restaurant concepts where the average consumer spend is currently between £8 and £16 per head, typically in the “casual dining” market. Food product quality, presentation and value for money will be key criteria for the Directors in making their investment decisions.