L Catterton Invests in Dishoom in First Private Equity £300M Deal

In a landmark move for the UK’s Indian dining scene, L Catterton has taken a minority stake in Dishoom, the cult-favorite restaurant group inspired by Bombay’s Irani cafés. This marks the first-ever private equity investment for Dishoom since its inception in 2010. While financial specifics remain undisclosed, sources close to the matter indicate the deal places Dishoom’s valuation at approximately £300 million, a notable endorsement of the brand’s enduring popularity and growth potential.

Fueling Global Ambitions with Strategic Capital

The investment is poised to power Dishoom’s ambitious expansion roadmap, particularly its entry into the United States. Following a highly successful pop-up experience in New York during the previous summer, which generated considerable consumer buzz and investor enthusiasm, Dishoom is now planning to launch its first permanent American location in 2026. This move will signal its transformation from a beloved British brand to an international dining name with global aspirations.

“We are thrilled to be partnering with L Catterton, and excited about the future of the business,” said Dishoom Co-Founder Shamil Thakrar. “Even more important than growth and expansion is keeping our focus strongly on deepening our hospitality – on providing guests with the most delicious food and the warmest service in beautiful restaurants.”

Expanding Footprint and Diversifying Hospitality Concepts

Dishoom, established by cousins Shamil and Kavi Thakrar, has expanded steadily to 12 full-service restaurants across the UK. Later this month, it is set to debut its first location in Glasgow, a strategic addition that further strengthens its nationwide presence. Alongside its flagship dining spaces, Dishoom has also introduced four compact Permit Room bars, offering a more casual take on its signature aesthetic. Notably, the group has begun exploring cross-sector hospitality offerings, including a trial of overnight accommodation in Notting Hill, a possible precursor to a full-fledged Dishoom hotel experience.

Strong Financial Momentum Amid Operational Growth

Dishoom’s financial performance reflects its robust positioning within the UK’s hospitality landscape. In 2023, the group reported pre-tax profits of £7.4 million, marking a significant rise from £4.7 million in the prior year. Revenue also crossed a major threshold, with annual sales surpassing £100 million for the first time. To support this growth, Dishoom expanded its workforce by nearly 300 new employees last year, underscoring its commitment to scaling operations while maintaining quality.

Private Equity Eyes Hospitality Brands with Cult Appeal

The deal highlights a growing trend among private equity players seeking stakes in hospitality brands that combine strong consumer loyalty with scalable business models. L Catterton, whose portfolio includes global lifestyle and food service assets, is backed by LVMH and has recently invested in a number of international dining brands, including Japanese wagyu beef specialist Kisshokichi and Spanish burger chain Goiko. Its partnership with Dishoom aligns with this strategy of identifying culturally distinctive, high-growth brands poised for global resonance.

“We look forward to supporting Shamil, Kavi, Brian and the team as they continue to grow the business in the UK and beyond,” said L Catterton partner Miray Topay.

Continuity in Leadership Amid Strategic Evolution

Despite the investment, Dishoom’s founding vision remains intact. The business will continue to be led by Shamil and Kavi Thakrar, alongside long-serving CEO Brian Trollip. The founding team’s continued leadership ensures that the brand’s original ethos, centered on nostalgia, community, and culinary storytelling, will guide its next chapter as it steps onto the international stage.