Portfolio
Nature of Business
Giraffe is a fast-growing family friendly restaurant brand, offering a range of international food and great customer service, enhanced by music from around the world.
Founded in 1998, Giraffe is still owned by the original founders, Juliette and Russel Joffe and Andrew Jacobs who all have an active role in the day to day management of the business. Giraffe now has 45 locations around London and the UK, including a presence at Heathrow, Gatwick and Manchester airports and has opened its first restaurant in Scotland. In 2011, new outlets will open in Bath, Soho and the Westfield centre in London, amongst others.
Investment Overview
3i invested in Giraffe in October 2006, taking a minority stake in order to support the national roll-out of the brand. Founder Russel Joffe wanted to partner with 3i because we shared his aspirations and could open some important doors for the business through our network of contacts. More importantly, as a minority partner, it remained his business.
We are fortunate to be working with two of Britain’s leading restaurant entrepreneurs, Russel Joffe and Luke Johnson, and the investment, a combination of a private-placement and Growth Capital, has allowed the business to quickly grow to 45 outlets, UK-wide. In addition to financial backing, we have used our extensive sector experience to introduce Stuart Rose as Non-executive Director. Stuart is the former Deputy Chairman of The Body Shop and the former Chairman of Hamleys and has invaluable experience and contacts in the retail sector and a great understanding of the value of a strong brand.
Since our investment, Giraffe has continued to grow rapidly in London and has opened franchises in Heathrow and Manchester airports. In October 2009 Giraffe acquired the sites of eleven Tootsies from the administrators of Tootsies Restaurants Limited, a subsidiary of Clapham House Group plc. This has enabled the brand to expand into new areas such as Reading, Basingstoke, Norwich and Portsmouth.
