Lemongrass Group looks for equity partner for continued growth

The award winning Lemongrass Group has announced it is seeking a business partner following the opening of its 13th branch.

The company, which makes a profit of £15,000 per month per site, will listen to offers for up to 50% of the company from the right partner.

Expansion until now has largely been funded by reinvesting profits and a bank facility.

Adopting a low key approach to the company’s expansion, Lemongrass restaurants has built a loyal following for its brand of Thai and Japanese. The approach was to avoid alienating potential custom from the growing segment of the market avoiding large chains.

The fast-growing concept has opened seven sites in the last year, and Minaz Nasir whose management team consists of himself and three close family members, feels the company is nearing the limit of their operational capabilities.

Nasir said: “The business had proven that it is a scalable concept and it’s time to put in a new management team, update our systems and reengineer the business”

Lemongrass has been a repeated winner in the prestigious Asian Curry Awards, organised by the Asian Catering Federation. Its Crawley venue was declared Best Thai Restaurant in 2015 and 2016. In 2017 Lemongrass was named Best Asian Restaurant Chain.