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Honi Poke has acquired rival poke chain Island Poké in a deal that adds 18 sites, split evenly between London and France, to its portfolio. Post-deal, Honi Poke has confirmed that the acquired sites will continue to operate under the Island Poké brand due to its “distinctive identity” and “strong following”.
The deal, described as a “landmark moment” by founder Volodymyr Martynov, brings Honi Poke’s overall portfolio to 45 sites across the UK and Europe. The company was founded in 2017 and currently operates 24 sites across the UK.
Martynov commented: “Island Poké has played a huge role in popularising poke across the UK and Europe, and we’re incredibly proud to bring our two brands together.”
He added that Honi Poke has seen “phenomenal growth” in recent years, with nine new sites opening in 2024, and is aiming to reach 50 sites within the next year. According to Martynov, the acquisition means that the company is now “projecting annualised revenue of over £20m in the UK alone”.
In accounts for the year ending December 31 2023, Honi Poke Limited reported turnover of £11.6 million, up from around £10.7 million a year earlier, and moved from a post-tax loss of nearly £140,000 to a profit of approximately £600,000.
Founded by James Gould-Porter in 2015, Island Poké initially operated as a street food stall. In 2016, the company secured backing from White Rabbit Fund, going on to open its first brick and mortar location in Soho, London the same year.
Island Poké underwent a pre-pack administration in 2024 that saw White Rabbit take on full control of the business. White Rabbit founder and CEO Chris Miller said at the time that the business possessed strong fundamentals and that its core sites were profitable, but that it had been affected by significant COVID-19 related debts, inflation and "especially inclement weather" at the outset of 2024.
Read about accelerating levels of M&A activity in the UK's food and beverage sector
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