Ceru Restaurants is an Eastern Mediterranean casual dining concept which is seeking to roll out.
Ceru Restaurants is a recently established Eastern Mediterranean casual dining concept which has previously had a number of pop ups in London. Ceru was launched by Stephen Gee, co-founder of Carluccio’s and chairman of Gaucho and Iberica along with Barry Hilton, a seasoned operator having worked with Black & Blue and Yalla Yalla. Now looking to rollout the concept into permanent locations, Ceru’s appeal has been proven with a number of pop-up sites around London receiving great reviews. The team are now seeking funding to secure their first site, and roll the concept out across London.
PRODUCTS & SERVICES
Ceru Restaurants Limited is seeking investment to carry on the trade of establishing and operating a number of casual dining establishments in London. The Company harnesses the diverse array of Eastern Mediterranean ingredients, providing a healthy, quick and affordable option for its core demographic of 20-35 year olds. The offering has been created to cater to the dine-in and takeout/home delivery markets while providing quick, flexible offerings at lunch and cocktails at night. The Company has successfully run various pop-up venues in Central London and, as a result of its success, is now raising £1,400,000 in new equity funding to expand the business and secure the first permanent site.
Ceru harnesses the diverse array of Eastern Mediterranean ingredients and presents them in an attractive and modern way that encourages the social aspects of dining and sharing food. Because of its relaxed atmosphere and its affordable average spend of £10 to £20, Ceru is classified as a casual dining restaurant. Casual dining is the fastest growing sector of the eating out market in the UK having grown by 11.4% over the last five years and is forecast to continue to grow.
Whilst it is possible to find “Eastern Mediterranean/Middle Eastern” cuisine throughout the UK, there are few restaurateurs who have adapted this food to create a product that can be enjoyed both as a dine-in or takeaway.
The menu is a combination of Lebanese, Syrian, Israeli and Turkish food with a slight Cypriot influence. It has been arranged into specific food groups that enable customers to quickly find what they want leading to a streamlined ordering process and turnaround time for tables. Diners can start eating quickly and do not have to wait until all the items are cooked before they can start enjoying their meal. Takeaway sales of “wraps and dips” at lunchtime are an important addition to building flexibility in the offering, as these products travel well and can be enjoyed quickly at one’s desk in the office.
The Company intends to create an exit opportunity as soon as practical after 5 years for any shareholder wishing to sell their investment. This will either be by way of a trade sale or floatation of the business. Potential mid-case target returns to investors are 2.7x capital, which is based upon a 9x company EBITDA multiple.