Five Guys Europe Secures £185 Million Refinancing Deal to Accelerate Expansion

Five Guys Europe has secured a £185 million refinancing agreement to support its ongoing expansion across the UK and mainland Europe. The new long-term debt facility, which runs until 2030, will enable the premium burger brand to strengthen its market position and fund the rollout of new restaurants in key markets including France, Germany, and Spain.

“Securing additional debt capital at a more favourable rate in today’s market is a significant accomplishment,” said John Eckbert, CEO of Five Guys Europe. “This £185 million refinance transaction is a testament to the strength of the Five Guys brand and our strong operational performance. It will be instrumental in accelerating our expansion strategy, allowing us to serve our growing customer base better.”

The deal follows a robust year of performance for Five Guys Europe. For the year ending 31 December 2023, revenue grew by more than £90 million, rising from £452.3 million in 2022 to £542.9 million. UK revenue increased from £278.6 million to £316.4 million. The business also reduced its pre-tax losses from £35.6 million to £16.2 million over the same period.

The company continues to invest in strategic growth locations, including the recent announcement of a new 90-cover restaurant at Heathrow Terminal 5 — its first location inside a UK or European airport.

Matthew Bullock, CFO of Five Guys Europe, added: “This refinancing gives us a solid financial foundation to continue delivering on our long-term growth plans. It allows us to be more agile in opening new locations, optimising operations, and investing in innovations that enhance the customer experience across all our markets.”

Eckbert concluded, “We’re excited about the opportunities this new capital brings for our continued growth and market leadership. The Five Guys team remains focused on delivering high-quality food and an exceptional customer experience as we expand our footprint across Europe.”