Meridia buys minority stake in Andilana

The deal saw the GP acquire a minority stake in the business. According to a source close to the situation, the transaction does not represent a capital increase in the company's equity value.

The company aims to use the fresh capital to boost its business expansion, extending its restaurant chain through strategic acquisitions.

The GP's maiden buyout vehicle, Meridia Capital I, targets €10-25m equity investments in Spanish companies generating revenues within the €15-70m bracket. The fund launched in 2016 with a €125m target.

Company
Established in 1985 and headquartered in Barcelona, Andilana operates a chain of restaurants and hotel operators. Currently, the company manages 25 restaurants and five hotels in Spain and generated €40m in revenues in 2016.

People
Meridia Capital – Javier Faus (founding partner, CEO); David Torralba (partner).
Grupo Andilana – Daniel Camós (chair); Ramón Puig (CEO).

Advisers
Equity – Freshfields (legal); PwC (financial due diligence, commercial due diligence, tax); Marsh (insurance due diligence).

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• Topics
• Expansion
• Consumer
• Southern Europe
• Spain