BlueGem takes 80% stake in Big Fernand

According to Big Fernand, BlueGem has made a first injection of €7m in the group for the time being.

The deal should be sealed by June 2017, and sees BlueGem aquire shares from company founders Steve Burggraf, Alexandre Auriacet and Guillaume Pagliano, as well as from family office SEP (managed by the Riccobono family), which was previously backing the group.

Burggraf will retain his position of company CEO along with 6% of the share capital, the group said in a statement.

With BlueGem's support, Big Fernand will focus on its international expansion, with plans to break into the Switzerland, UK and Nordic markets specifically. The group is also planning to acquire two Hong Kong-based burger outlets that previously operated as franchises.

Big Fernand will concurrently add to its French locations, with plans to open four new branches in June this year, with potentially more to come by year-end.

Overall, Big Fernand aims to have 45-50 restaurants by the end of the year (compared to 35 currently), a number that it will look to bring up to 100 over time.

With this transaction, BlueGem adds to its list of investments in the consumer sector, having acquired UK-based needlecraft company Sirdar to merge it with portfolio companies DMC and Wool And The Gang in April, and its acquisition of a majority stake in Spanish restaurant chain Lateral in May.

Previous funding
Audacia Capital previously invested €1.5m in the business.

Company
Launched in 2012 by Steve Burggraf, Alexandre Auriacet and Guillaume Pagliano, Big Fernand is a gourmet burger restaurant chain.

The group claims it uses exclusively French products sourced from artisan bakers and producers. It currently manages 35 restaurants based in Paris, London, Dubai and Hong Kong. Its predicted turnover for 2017 stands at €50m.

People
BlueGem – Mathieu Develay (investment manager).

Advisers
Equity – Oaklins Aeolios Finance (M&A); Deloitte (corporate finance); Reed Smith (legal).
Company – Cambon Partners (M&A); 66NTH (corporate finance); Lincoln International (corporate finance); Le Desk, Jean-Chaels Beroard (legal).

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• Topics
• Buyouts
• France
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• France
• United Kingdom
• BlueGem Capital Partners