Street Food Business Mowgli Back in the Black, Providing More Than 100 Job Opportunities
Title: Booming Mowgli Street Food Nets Profit, Expands Empire Under New Investment
Kicking It Up a Notch: Liverpool-based Mowgli Street Food, the brainchild of celebrity chef Nisha Katona, has bounced back with a profit margin of £512,178. This turnaround, as per new accounts submitted to Companies House, follows a pre-tax loss of £476,456 in the previous fiscal year. The earnings report also reveals an impressive 33% increase in the restaurant's sales, bringing its revenue to £40.4 million from £30.8 million.
Onwards and Upwards: This latest triumph is the third consecutive year of growth for Mowgli Street Food, marking its steady recovery from the tumultuous period of the Covid-19 pandemic. The restaurant chain also added a whopping 129 new employees, growing their workforce from 704 to 833 in the last 12 months.
New Partnership Horizons: The streak of success continues as Mowgli Street Food joins a larger group following a significant investment by private equity firm, Trispan. Alongside its investments in Pho and sk:n, Trispan has offices in London and New York. The deal, announced in January 2023, facilitated an exit for Foresight, which had initially invested in Mowgli Street Food in 2017. By March, Mowgli Street Food, Pho, and Rosa's Thai collectively formed the Arcturus Group, a merger set to bolster the growth and expansion of these brands.
A Passionate Journey: Nisha Katona, the CEO and founder of Mowgli, shares her excitement about the collaboration, affirming her undying enthusiasm for the brand she founded in 2014. The celebrated chef, who has been honored with an MBE for services to the food industry, has made a name for herself as a well-known food writer and TV chef. In addition to her appearances on popular shows like This Morning and MasterChef, Katona was once known as the "Curry Evangelist" on YouTube and has authored three cookbooks.
The revitalized Mowgli Street Food is now eyeing international expansion, with cities like New York, Amsterdam, and Dublin on its radar. With a focus on fresh, healthy, and authentically Indian street food offerings, the brand is primed to make its mark on the global stage.
Investment in Industry: The private equity firm, Trispan, has invested in Mowgli Street Food, a move that will likely boost the restaurant's growth and expansion plans, as Trispan also holds investments in Pho and sk:n.
Business Growth: With the strategic partnership and new investment, Mowgli Street Food aims to expand its business not just nationally, but internationally, targeting cities like New York, Amsterdam, and Dublin, aiming to make a significant impact on the global food industry with their fresh, healthy, and authentic street food offerings.
