Rockfish to open three new locations in the next 12 months
Rockfish, the nine-strong seafood restaurant group led by Mitch Tonks, is to open at three new locations over the next 12 months.
The team has secured sites in Salcombe, Sidmouth and Topsham, with a number of other locations under consideration.
The expansion follows a record year for the restaurant chain which at the end of April 2022 posted sales of £13m, restaurant earnings before taxes, depreciation, and amortization (EBITDA) of £2.9m and group EBITDA of £1.34m.
Rockfish has also acquired two of its major suppliers, Brixham Seafish and Hillside Foods, which it says has helped create a unique integrated supply chain based directly on the quayside in Brixham, allowing landings from small scale fishermen, as well as its own boat “Rockfisher”.
These improvements have not only allowed the business to adapt to inflationary pressures but have also enabled it to drop cod from its menus and replace it with native species as supply chains are hit by the conflict in Ukraine and resulting sanctions.
This is in addition to opening a fishmongers in Brixham enabling customers to buy fresh ready-to-cook seafood, and launching the first range of British tinned fish which is now sold in premium retailers and restaurants nationwide.
Mitch Tonks, founder and CEO, comments: "I am extremely proud of what the team have achieved at Rockfish over the last two years. We always set out to create amazing seafood restaurants using produce landed by local boats and small-scale fishermen. Covid allowed us the space to think differently, build a better business and focus on culture and our clear mission to be the leading sustainable seafood restaurant business in the UK.
"Whilst the industry faces multiple challenges in terms of inflation and staffing, I believe the investments made this year in our supply chain and our people give us a clear competitive advantage that will allow us to build a more significant business over the next few years."