Vietnamese restaurant group

Pho is a family-run street food business, serving great value, healthy Vietnamese food cooked fresh daily.

They specialise in delicious and nutritious pho noodle soups.

Investment rationale

We made an investment to support the founders' roll-out strategy. Pho’s profits grew strongly since investment, and the business generated revenues of about £40m in the year to February 2020. We sold a majority stake in the business to TriSpan, a leading private equity firm with specialist expertise, in August 2021.

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