With a surprise shot gruppo Cigierre – Compagnia Generale Ristorazione spa, the owner of a series of etnic restaurants in Italy with well-knonw brands such as Old Wild West, won an auction for Temakinho nippo-brasilian restaurants chain. In a not Cigierre said yestarday that it acquired as majority stake in Temakinho (see here the press release).
Temakinho was supported in thedeal by financial advisor Vitale&Co, by Bonelli Erede law firm and by Tavecchio Caldara & Associati as for fiscal issues, while Cigierre was advised by Mediobanca and by Linklaters law firm.
The announcement came as a surprise as market rumors were that four private equity firms were taking due diligence on the company. Armonia sgr, Argos Soditic, Vam Investments and Green Arrow Capital were said to be the firms (see here a previous post by BeBeez).
Temakinho was founded in 2013 by Linda Maroli, Santo Bellistri, Francesco Marconi and Fabrizio Pisciotta and the company has been looking for a fianncial partner for some time. Also 21 Investimenti, was said to have looked at the dossier in the past months but then no deal was signed (see here a previous post by BeBeez).
Temakinho’s founders will retain a minority stake in the company and will go on running the business which reached 25 million euros in revenuews in 2017 with 4 millions in ebitda. The restaurants chain is active in Milan, Rome and Ibizaand is preparing openings in London. Thanks to cigierre’s investments, the company will be abkle to open also in other locations in Italy, Spain, UK and France.
Cigierre is in turn on sale. The owner of restaurants chains Old Wild West, Cantina Mariachi, Arabian Kebab, Wiener Haus, Shi’s, Kukkuma Cafè, America Graffiti and Pizzikotto, advised by Rothschild e JP Morgan, received six non binding bids in the last few weeks all above 700 million euros (see ahere a previous post by BeBeez).
Carlyle, Permira, Onex and Cinven are said to be among the bidders while Apax Partners is said to be no more in the list. Cigierre, based in Tavagnacco (Udine), is controlled by BC Partners since November 2015 when the private equity form bought out the company from L Capital, Paladin Capital Partners, Camelot Holding and from the founder and ceo Marco Di Giusto on the basis of a 310 million euros EV (see here a previous post by BeBeez).