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Cactus Club founder invests in David Hawksworth's restaurants

Richard Jaffray buys Georgia Pacific Properties' shares
Richard Jaffray (left) stands with his new business partner, David Hawksworth.

Cactus Club co-founder Richard Jaffray has invested an undisclosed amount in Hawksworth Restaurant Group, an 11-year-old venture founded by celebrated chef David Hawksworth.

The group's restaurants include Hawksworth Restaurant, Nightingale and Bel Cafe.

Hawksworth told BIV that Jaffray's investment was "hefty," although he would not disclose the exact amount. He also would not say whether the investment is a majority or minority share of the company. 

"He will be there as an advisor and somebody that I can talk to, and we can discuss things," Hawksworth said of Jaffray. "That will be his role. There's no change in my business, or day-to-day running of anything."

No new restaurants are yet planned, Hawksworth said.

Jaffray in February sold his stake in Cactus Club to the Fuller family, which also owns the Earls and Joey Restaurants chains.

Hawksworth said that he has known Jaffray for a long time and "when he was finished with Cactus Club, we struck up a conversation."

Hawksworth Restaurant has been listed by Forbes as being one of the best restaurants in the world. 

Jaffray rarely speaks with the media and was not available for an interview but said in a release that he has always respected Hawksworth and his restaurant group. 

“I’m looking forward to adding value and contributing to the team’s continued success,” he said. 

Jaffray and Scott Morison worked at Earls early in their careers. They left to found an ice cream and sandwich shop called Cucamongas Café.

The duo then co-founded Cactus Club in 1988 in North Vancouver. They had a falling out, and Morison sold his stake in the venture in 2005 for $4 million, Morison told BIV in 2009. Morison then founded the Browns Socialhouse chain, with the first location also being in North Vancouver.

Earls owner Stan Fuller provided 50 per cent of the needed financing to found Cactus Club, Morison told BIV in 2009.

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