Poke House acquires London-based Ahi Poké
Poke House, a fast-casual poke brand in Europe, has announced the acquisition of London-based restaurant chain Ahi Poké from BVC Group, marking its expansion in the United Kingdom.
The move follows a few days after the closing of a €20m Series B funding round led by Eulero Capital, with backing from FG2 Capital and reinvestment from Milano Investment Partners Sgr (MIP Sgr). The new injection was secured in less than two years since the company’s launch.
The proceeds from the funding round are intended to fuel and accelerate the international expansion of the company, with the acquisition of Ahi Poké representing a key step in a broader plan to open 200 new stores across Europe. The brand is now set to launch seven venues in the UK capital by the summer, with the first Poke House restaurant planned to open in Notting Hill in June.
Founded in Milan in November 2018 by young entrepreneurs Matteo Pichi and Vittoria Zanetti, today Poke House is one of the fastest-growing European foodtech scale-ups. With an expected turnover of over €40m in 2021, the company boasts 30 restaurants across Italy, Portugal and Spain, and employs more than 400 people.
Just two years after being founded, and despite the damaging effects of the pandemic on the international food service industry, Poke House has reached an enterprise value of €100m, thus demonstrating that high quality fast casual poke is not a temporary trend but a here-to-stay innovative concept.
The new capital injection came less than a year after the first €5m Series A round led by MIP Sgr, further confirming the soundness of the brand’s innovative business model based on high quality ingredients, hyper-curated customer experience and a strong digital component.
Matteo Pichi, co-founder and CEO of Poke House, comments: “The new funding round and the expansion in the UK market, with the acquisition of Ahi Poké and the forthcoming launch of the first Poke House restaurant in the capital, set two milestones in the brand’s exciting growth path. I am grateful to Eulero Capital and FG2 Capital for choosing to support this project, and to Milano Investment Partners Sgr for their continued trust in us.
“We realised early on that poke could be a product with great potential, but at the same time many other chains were starting to introduce it on their menus. That’s why we decided to strongly differentiate our high quality fast casual offer and invest heavily in technology. Our data-driven approach allowed us to scale at a much higher rate than a classic restaurant chain, and to adapt the business strategy in a very reactive and effective way. This has proven to be crucial, especially in such complicated and challenging times for the food service industry, and we are now looking forward to further expanding our reach in Europe and introducing our concept to new customers.”