The Neapolitan-inspired pizzeria chain, which operates 23 sites across the UK, says it has had ‘exciting, unsolicited’ conversations with trade operators, international hospitality partners, global food service providers and financial institutions about its next steps.
PwC have been appointed to evaluate the growth opportunities open to the company as it looks to embark upon the next phase of its development.
Pizza Pilgrims was founded in 2012 by brothers Thom and James Elliot, who co-run the business with managing director Gavin Smith and finance director Sophie Gilchriest.
The group aims to further expand both in the UK and overseas in the future, and is currently evaluating potential international destinations.
Three further UK sites are scheduled to open this financial year including the group’s first outpost in Scotland, which is set to launch in Edinburgh.
As well as expanding its core brand, Pizza Pilgrims is also looking to relaunch its New York pizza-by-the-slice concept Slice.
The group first established Slice during the pandemic as a pop up on London’s South Bank and went on to launch a permanent site under the brand in Finsbury Park in the summer of 2021, which served pizza by the 12-inch slice or by the metre.
However, little more than six months later the restaurant closed and reopened under the Pizza Pilgrims banner.
At the time the group said that the restaurant environment was not suited to the more grab and go Slice format and that any further expansion would take a ‘different route’ with a focus on concessions within other venues and at festivals.
With regards to the new plans for Slice, the group says it is currently in discussions with a large entertainment venue.
“Since the outset, our mantra has always been to build a sustainable business for the long term, making people happier one pizza at a time,” says Thom Elliot.
“We know we and the team have together built a great business and we’re really excited about the next leg of our journey and growing the business to bring the Pizza Pilgrims’ experience to more pizza-loving customers in new markets both at home and abroad.
“We’re looking forward to building on that momentum and leveraging some of the exciting opportunities ahead in the right way.”
In February this year Pizza Pilgrims received B-Corp certification following a two-year qualification programme – making it one of only a handful of UK hospitality businesses to have received this accreditation.
It reported ‘record breaking’ revenue for the year ended 25 June 2023, with sales souring 37% to £28.7m over the period.
Pre-tax profit more than doubled from £0.3m to £0.7m, with EBITDA rising to £2.4m from £1.1m the year before.
