Axon buys restaurant chain Cañas y Tapas

Axon Partners Group has acquired Spanish restaurant chain Cañas y Tapas.

The vendors are Mexico-based restaurant operator Alsea and private equity firm Alia Capital Partners.

Following the deal, Axon intends to boost the company's growth and its expansion across Europe.

This is the second deal inked by Axon in the hospitality sector, following its acquisition of restaurant chain Le Pain Quotidien in 2019.

Previous funding
CVC Capital Partners acquired restaurant group Zena, which comprised the chain Cañas y Tapas, in 2001 for €93m.

The GP sold the company to restaurant operator Alsea and private equity firm Alia for €270m in August 2014.

Company
Founded in Madrid in 1999, Cañas y Tapas manages a network of 15 restaurants located across Spain, Portugal and France.

People
Axon Partners Group – Francisco Velázquez, Alfonso de León (managing partners).

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