Parent company Bresand Leisure, which was set up by Calveton and Breal Capital when it acquired the group in the autumn of 2023, has reported turnover of £126.4m in its inaugural financial results for the year ended 30 September 2024.
The London-centric group saw a loss after tax and minority interests for the period of £13.4m.
Writing in the results, Michael Welden, one of the group’s directors, said: “Considering the amount of transformational change we drove through the business, including a new leadership team, we are happy with the 2024 performance as a result of the successful transition period and have a current focus of continued consolidation and like-for-like growth in a challenging environment for the sector.”
He continued that the business is ‘trading strongly’ in the current financial year with five restaurants in the group’s estate hitting their highest ever sales week in December.
“The group’s strategy is to continue to develop its core restaurant brands through targeted investment and guest experiences.
“Following the investment by Breal Capital and Calveton in October 2023, the business has been able to continue this development and is now looking forward to the next phase of growth both in the UK and internationally, as it consolidates on the strength of the core brands it has.”
The group’s post balance sheet events confirms that the group retains the lease to its Launceston Place restaurant, which closed at the end of October last year following the departure of chef Ben Murphy.
It has also sold its majority stake in its Alexander & Björck event’s arm, and offloaded its Alcazar restaurant in Paris, the group’s only site in France, for a consideration of £2m.
The group reported in February this year that it would be changing its name from D&D London to The Evolv Collection.
It followed the departure of D&D co-founder David Loewi at the end of 2024.
Former Rare Restaurants boss Martin Williams was later announced as the group’s new CEO and officially took the reins of the business in April.