Wed 30th Jul 2025 - Exclusive: US investment firm L Catterton in advanced talks to back Dishoom Exclusive – US investment firm L Catterton in advanced talks to back Dishoom: L Catterton, the US investment firm which is 40% owned by LVMH, the French multinational holding company and conglomerate that specialises in luxury goods, is in advanced talks to invest in Dishoom, the award-winning Indian restaurant group, Propel has learned. Second round bids are understood to have been submitted earlier this month to invest in Dishoom, with L Catterton understood to have moved ahead of a number of investment firms, including New York-based venture capital fund Imaginary Ventures, to back the 14-strong business. It is thought that a successful deal could value Dishoom at in excess of £300m. Last month, Propel revealed that transatlantic investment funds and high net worth individuals were believed to be among the parties that had submitted first round bids to Dishoom. Last November, Dishoom revealed it had appointed advisors to help it secure new investment to aid a launch in the US, which could happen as early as this year. The business, which was founded in 2010, has been working with Goldman Sachs on its investment options. Co-founders Shamil and Kavi Thakrar said the process could see the business bring in an investor or partner to fund the move, and to also provide expertise and strategic counsel as it looks to enter the US market and continue its growth in the UK. The business currently operates ten sites under its eponymous concept and four under its newer Permit Room format. Dishoom – which operates Permit Rooms in Brighton, Cambridge, Oxford and in London’s Portobello Road – will open a site in Glasgow next month (29 August) under its eponymous brand – a 7,000 square-foot site at the former stock exchange building in Nelson Mandela Place. Dishoom has also lined up a further opening under its eponymous brand, on the ground floor of 68-78 Vicar Lane in Leeds. It has also applied to open a Permit Room at 1 Dale Street, in Exchange Court, Liverpool. Co-founder Shamil Thakrar told Propel earlier this year that he believes Dishoom can open two or three sites a year, and that it will have a clear plan in place in 2025 for its US debut, with New York earmarked for the launch. Latest accounts available for Dishoom show the company saw turnover increase 23% to £116.8m in the 12 months to 31 December 2023. The results – reflecting the first time the current 12-month period and prior comparable year were both unaffected directly by covid 19 – included significant growth in Ebitda, up 41.9% to £13.3m. Pre-tax profit increased to £7.4m from £4.8m. Earlier this year, Shamil Thakrar talked to Propel group editor Mark Wingett about 15 years of the brand, how the business and his leadership has evolved, how it has kept the connection with employees and consumers relevant and strong, and how it plans to keep the “secret sauce” in the company as it looks to take it first steps internationally. This is one of around 100 videos of industry insight over the course of a year made available to Premium subscribers. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. 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 supplier. Email kai.kirkman@propelinfo.com today to sign up.