Yard Sale Pizza owner sees FY revenues rise after PE injection

Well Street Pizza Company, the operator of Yard Sale Pizza, has reported a £2.39m rise in revenues to £13.17m and a pre-tax profit of £505,251, up from £293,278, for the year to 27 April, following a private equity investment and the opening of two new restaurants.

According to the group’s filing at Companies House, turnover at its London-based pizzerias increased from £10.78m a year earlier, reflecting higher customer volumes and the full-year impact of sites opened in previous periods.

A key development during the year was the acquisition of a controlling stake by Piper, a UK-based private equity firm focused on consumer brands. The deal was completed in April through a newly formed holding company, Project Eric Buyer Ltd, with the founding shareholders retaining a minority stake.

Well Street Pizza said the investment was intended to support expansion, strengthen management oversight and bring additional institutional experience into the business.

During the year, the group opened two new sites in Bermondsey and Earlsfield. Capital expenditure totalled £782,617, lifting tangible fixed assets to £4.4m from £3.7m previously.

Cash at bank stood at £1.3m at the period end, while average monthly headcount increased to 408 from 354, reflecting growth in the estate and additional staffing to support operations.

Looking ahead, the company said it plans to pursue a more accelerated growth strategy following the Piper investment, including opening new sites in key urban markets, strengthening its central management team and increasing marketing activity to build brand awareness.

However, the directors flagged a number of risks to the outlook, including macroeconomic pressures on consumer spending, challenges in recruiting and retaining staff, supply chain disruption, regulatory compliance and financial risk linked to creditor balances and borrowing.