rhubarb creates and delivers premium food and beverage experiences
How we helped
rhubarb creates and delivers premium food and beverage experiences across events and iconic locations. Both rhubarb events and locations share the rhubarb defining character – a bespoke approach, creative food presentation and deliciously different menus.
Sales & marketing:
- During our investment we helped management to refine and focus rhubarb’s strategy on iconic locations concentrating on culture, sporting and fine dining locations, and away from the travel sector.
- Our Commercial Team supported the rhubarb team on a market analysis of locations, implementing a robust pipeline of winnable opportunities, developing an IT road map and assisting with a rebrand.
During our investment revenues grew at a CAGR of 28% and EBITDA of 38%, more than doubling revenue to over £60m through the winning of key venues such as London’s Sky Garden. At point of exit c. 85% of revenue came from venues with long term contracts and good visibility of future revenue.
In 2016 we sold our stake in rhubarb to Livingbridge, achieving a return of 3.1x and 32% IRR.