By Ishaan Tugnait
Leeds-based smokehouse chain Reds True Barbecue has launched its first branch in London after securing a £5m investment from leading individuals in the hospitality industry earlier this year.
The consortium who funded the multi-million pound investment include former Wagamama chair Ian Neill, Brandon Stephens (Tortilla), Stephen Wall (Pho), Jamie Barber (Cabana), Maurice Abboudi (K10), Dom Lake (Canteen) and retail entrepreneurs Aarish Patel and Sunny Gil.
The newest store, which opened for business in Shoreditch on Friday, comes as the firm looks to strengthen its geographic presence. It wants to get to 20 sites over the next few years.
The fast-growing smokehouse chain already operates four sites across the North and Midlands. Its arrival into the London foodservice scene signals Reds’ intent to become a smokehouse powerhouse. This is further backed up by advisory firm BDO tipping it to become one of the leading operators in the UK smokehouse boom.
At the time of securing the investment, Scott Munro, who co-founded Red’s with James Douglas, said: “We’re two and a half years into an incredible journey. Red’s is still a young company, and to have access to this wealth of advice and knowledge at this stage of our growth puts us in a strong and enviable position.
He added “This deal will guide us into early next year where we plan to re-look at our options. Our focus remains to open 20 sites within five years.”
Five of the planned 20 sites have already been opened with a sixth in close proximity. Reds True Barbecue is looking to have a major impact in the foodservice market.