Blacklock sells minority stake to BGF
Documents filed to Companies House show that BGF, a growth capital investor for small and medium-sized businesses in the UK and Ireland, has become a non-controlling equity partner in Understudy Limited, Blacklock’s parent company.
It follows a report in The Telegraph last month that said Blacklock was in talks with investors regarding a potential sale of a stake in its business.
Gordon Ker, who founded Blacklock back in 2015, remains the major shareholder and group CEO.
Blacklock said BGF’s 'expertise in supporting leading British brands within the sector and further afield will help it continue its ongoing steady and sustainable growth'.
Earlier this year, Blacklock opened its first restaurant outside of London in Manchester within a Grade II-listed textile warehouse on Peter Street.
The group also operates five sites across London in Soho, The City, Shoreditch, Covent Garden and Canary Wharf.
Speaking to Restaurant last year, prior to the announcement of the Manchester restaurant, Ker said that cost pressures in the capital meant Blacklock may focus more on regional expansion in the future.
“I prefer the idea that there are many other cities outside of London that don’t have a Blacklock yet but have the demographic of London and great people and culture and the ability to do great restaurants,” he said.
“We definitely like growing outside of London from a brand perspective.”
Blacklock received B Corp certification in 2023 and has been listed in the UK’s Best Companies to Work for two years in a row.
