Member Article

Thai restaurant group plans expansion with multi-million ‘squid’ investment

Thai restaurant operator, Giggling Squid has announced plans to grow its portfolio thanks to a £6.4m investment from British Growth Fund (BGF).

The Guildford-headquartered restaurant group, which has 13 sites across the South of England, will use the BGF funds to add further locations to its portfolio of successful restaurants.

BGF has taken a minority equity stake in the business and has also introduced Simon Kossoff, Chairman and former CEO of Carluccio’s, to the company. Simon has joined the board as non-executive Chairman and Jon Simon, Investor at BGF, has also joined the board.

Giggling Squid serves simple, fresh Thai cuisine at lunch and dinner and also offers takeaway services across its restaurants.

Run by entrepreneurial couple, Andy and Pranee Laurillard, Giggling Squid first opened in Hove, followed by further restaurants in Brighton, Tunbridge Wells, Henley, Reigate and Stratford.

Over the past two years the pace of growth has accelerated, with three openings in 2014 and a further four so far this year, in Bristol, Salisbury, Billericay and Guildford. New restaurants in Bury St Edmunds, Berkhamsted, Warwick and Esher are due to open soon.

Andy and Pranee’s background in marketing and brand strategy has helped them to drive the success of the Giggling Squid brand. Pranee started her career as an advertising creative at international creative agency Lintas. Andy started his career in 1996 at Unilever, before a short spell at Coca Cola and subsequently five years as head of brand strategy and innovation at TUI Travel.

The business employs around 300 staff across its thirteen sites and is expected to generate revenue in excess of £12m this year. A further 1,000 jobs nationally are expected to be created as a result of the company’s expansion over the next 4 years.

Andy Laurillard commented: “This is a really important step for Giggling Squid as we look to expand our brand across the country. We are now well funded and in a strong position for growth. This is a growing, dynamic company and it is an exciting time for Giggling Squid and for all of our employees. Thai cuisine is an underserved segment of the market and we have the opportunity to create a truly national brand providing great Thai food. It’s a good time to be part of that story.”

Jon Simon added: “We first met Andy and Pranee in 2013 and were impressed with the quality of the offering and their vision for Giggling Squid. We kept in regular contact and keenly followed their progress. We are excited to now have the opportunity to invest in this established casual dining brand, with a strong track record of organic growth and a compelling expansion story. We look forward to working with Andy, Pranee and the rest of the Giggling Squid team.”

This was posted in Bdaily's Members' News section by Ellen Forster .