Pizza Pino (France) - Jan 2008

Astorg Partners has exited its 83% share in restaurant chain Pizza Pino, by selling it back to founder André Sfez and businessman Lucien Urano. Sfez and his late brother previously held 13.5% between them. Sfez added to his stake by retrieving WHBL7’s (formerly SOFAL) share which constituted around 3%. The deal attracted controversy when Sfez used his veto to block an exclusive deal which had been set up and signed between Astorg Partners and Groupe Bertrand. The deal values the company at €36m which includes the €12.5m debt.

Company

Pizza Pino is an Italian restaurant chain founded in 1962. It served two million customers in 2007 and generated a €35m turnover. The new owners have announced plans to expand the company by 30-40 new restaurants to add to the current seven. The company employs around 400 people.

People

Pizza Pino founder André Sfez and new investor Lucien Urano, the founder of the Fabio Lucci brand, are the new owners of the restaurant chain.

Advisers

Equity - Ashurst, Bertrand Delaunay, Guila Dijan (Legal)Vendor - Close Brothers , Philippe Guezenec, Thomas Gaucher (Financial Due Diligence)Vendor - Willkie Farr & Gallagher, Emmanuel Scialom (Legal)

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• Topics
• France
• Exits
• Consumer
• France
• Management buy-back