Pizza Pilgrims, the artisan food chain, is expanding into Scotland and Wales after posting record results, showing signs that the UK’s hospitality industry is recovering.
With 22 Neapolitan-styles pizzerias, most of which are located in London, the company was able to post record revenues of £28.7 million and double its pre-tax profits to £700,000 in 2023.
Now the 480-employee-strong company is expecting to expand even further having started developing a new store by Cardiff Castle and puchasing a site in Edinburgh.
Pizza Pilgrims is also seeing some of its larger rivals adopting its offerings.
“We were one of the first, if not the first, to put hot honey on pizza. Last week I saw Pizza Hut had launched their hot honey pepperoni pizza,” said co-founder Thom Elliott.
Thom and his brother James created the company from a Soho market stall in 2012 and have since retained majority ownership, selling off only smaller chunks.
Its most significant sale was to Imbiba, the boutique investment firm, in a £3 million deal in return for an 8% in the company.
Some 40 investors, including Rupert Cleverly, are believed to have built smaller stakes in the company.