Azzurri Group secures refinancing deal to back expansion
Azzurri said the new facilities would give it greater financial flexibility as it looks to expand Dave’s Hot Chicken across the UK
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Azzurri Group has completed a refinancing package that will provide new funding to support its expansion plans, including the rapid growth of US fried chicken chain Dave’s Hot Chicken.
The hospitality group, which owns ASK Italian, Zizzi, Coco di Mama and Boojum, said that the deal comprises a four-and-a-half year senior term loan, a capital acquisition facility and an expanded revolving credit facility.
Azzurri said the new facilities would give it greater financial flexibility as it looks to expand Dave’s Hot Chicken across the UK and launch into continental Europe in 2026. The brand has already opened in the UK and is aiming for 60 sites domestically and 180 across Europe.
The group added that its portfolio was “balanced” across price points, demographics and dining formats. It said Zizzi and ASK Italian continued to grow market share, while Coco di Mama was expanding through travel hubs, supermarkets and delivery-only kitchens.
The financing package is being provided by investment funds and accounts managed by HPS Investment Partners, with the revolving credit facility arranged by HSBC Bank.
CEO of Azzurri Group, Steve Holmes, said: “This new facility gives us greater financial flexibility and additional funds to accelerate our ambitious growth strategy, particularly for Dave’s Hot Chicken which we are rolling out across the UK and Europe.”
