Honest Burgers reveals plans to quadruple in size by 2030 as it reports revenue hits £30m in first half of 2024: Honest Burgers, the Active Partners-backed business, has revealed it is aiming to quadruple in size by 2030 as it reported like-for-like sales growth of 11%, hitting £30m in revenue in the first half of 2024. The 39-strong brand said profitability is also ahead of forecast, with more than 60% growth in Ebitda performance. Honest Burgers said it has consistently been outperforming the market by an average of ten percentage points versus the Coffer Peach Business Tracker. The group has also filed accounts for year ending January 2024, which showed like-for-like sales growth of 21% with turnover increasing by £8.1m to £56.4m, up 17% increase versus the previous year. The group said the strong sales growth was driven by both dine-in and delivery covers. Adjusted Ebitda was flat year-on-year as the business felt the impact of utilities inflation, where costs were more than double the previous year. Honest Burgers has recently announced a new smashed burger concept due to launch later this year. This new concept is supported by Honest Burgers crowdfunding, which raised almost £2.7m in 2023. The concept will offer an extended range of smashed burgers, loaded chips and milkshakes, served in a quick service format, “without compromising on the brand’s core principles of making everything themselves in the Honest Butchery and central kitchen”. Chief executive Matt Brandon said: “We’ve had a great first half of this year, which follows a strong performance last year, showing that demand for great quality burgers at great value for money continues to grow. Our restaurant teams are doing an exceptional job and we’re all excited for the year ahead, especially with the announcement and launch of our new smashed burger concept. This is the start of our ambition to quadruple the size of the business by 2030.” Honest Burgers was founded by Tom Barton and Philip Eeles in Brighton in 2009. Honest Burgers features in the Premium Club Turnover & Profits Blue Book, which features 994 companies. Honest Burgers turnover of £56.4m is the 197th highest in the database. The Blue Book ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.

Heartwood Collection opens fourth pub with rooms: Heartwood Collection, the Alchemy Partners-backed business, has opened its fourth pub with rooms. The company has launched The Coat & Bear in Newbury, Berkshire, following an extensive multimillion-pound renovation. The original office and retail buildings have been transformed into a pub with an island bar, dining room and 26 boutique bedrooms. Newbury’s newest pub was named in honour of local author Michael Bond’s creation, Paddington Bear, together with the infamous Newbury Coat of 1811. Dishes on its seasonal, sustainably sourced menu include eight-hour slow-cooked shoulder of Highland venison with Grand Veneur sauce, blackberries and mash, and “Autumn Still Life”, a tribute to autumn foraging in the woods. Heartwood Collection chief executive Richard Ferrier said: “It has been a fantastic opportunity to create a new-build pub with rooms with a listed Georgian facade in the historic town of Newbury. With its elegant island bar, inviting nooks and charming rooms, we hope it will become a vibrant gathering place for the great and the good of Newbury for many years to come.” The Coat & Bear will be joined by a further pubs with rooms in 2024 – The Royal Forest in Epping Forest, Essex, which opens on Friday, 6 December. The group remains on track to open more than 60 sites by 2027, with more than 500 rooms, as part of its ambitious growth trajectory following its £100m investment by Alchemy Partners, and already has seven locations confirmed to open in 2025.