TriSpan gobbles up majority stake in Pho

The first Pho restaurant opened in 2005 in Clerkenwell and has since expanded to 30 restaurants and three delivery-only kitchens.

Global private equity firm TriSpan announced its dedicated restaurant fund has acquired a majority stake in Vietnamese restaurant group Pho.

Former finance director Patrick Marrinan will lead the group as managing director in its next phase of growth whilst founders Stephen and Juliette Wall will remain in executive roles alongside operations director Ewan McDonald and marketing director Libby Andrews.

TriSpan’s European Operating Partner Robin Rowland will chair the board with Steve Hill, the chain’s current chairman, remaining on the board as a non-executive director.

Financial terms of the deal were not disclosed.

The first Pho restaurant opened in 2005 in Clerkenwell and has since expanded to 30 restaurants and three delivery-only kitchens.

“After an extremely challenging 18 months, during which time the superhuman efforts of our team and support of our landlords have helped us to weather the pandemic, it’s fantastic to receive this vote of confidence in Pho. Gresham House have been wonderful partners and we now look forward to working with Robin and the TriSpan team as we get back to what we do best, with Pat stepping up and leading the charge as MD along with Ewan, Libby and the rest of our team,” Pho founders Stephen and Juliette Wall said in a statement.

Patrick Marrinan, managing director, added: “It’s a real honour to lead the company through the next phase of growth and, whilst this deal means we have to say goodbye to a great partner in Gresham House, we are delighted to be welcoming Robin and TriSpan to the Pho team.”

This is TriSpan Rising Stars’ eighth investment globally, and its third in the UK, following previous investments in Rosa’s Thai Café and Thunderbird Fried Chicken.

Join QSRMedia UK community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The restaurant will have a floor dedicated to takeaway transactions.
It is seeking franchisees interested in single or multi-unit operations immediately.
The pizza franchise already has over 500 stores in the UK.
The pop-up arrives roughly five months after the chain tried one in Cologne, Germany.
The chain’s rollout of outlets will see them reach nearly 100 UK sites by the end of summer 2022.
The chain, whose city centre outlets were hit hard by COVID-19 restrictions, describes the move as the next step in its ‘transformation” strategy.
This will be the brand’s 74th UK restaurant opening.
Flipdish UK country manager Fionn Hart makes a case for digital interface solutions as an answer.
The CGA Prestige Foodservice Price Index predicts continued inflation over the remainder of 2021.
It is slated to have 100 restaurants over the next five years as part of a master franchise deal.
Its founder says the chain’s on the road to recovery.