BC Partners buys 85% Cigierre stake in €300m SBO

Other exiting parties include founder and CEO Marco Di Giusto, who sold his stake to BC Partners but reinvested substantially in the deal. He will continue to be at the helm of Cigierre alongside the current management team.

The deal saw L Capital, the investment arm of luxury goods group LVMH, fully exit Cigierre three years after having acquired its 35% stake in the company in July 2012.

Following the acquisition, the GP will pursue an expansion strategy for Cigierre. It sees opportunities to double the company's current number of locations, expand its venue types and locations, and develop additional restaurant formats.

The strategy may also include opening some international locations, or acquiring complementary operations outside of Italy.

Debt
A financing package is being provided by UniCredit.

Company
Cigierre is an Italian restaurant group founded in Udine in 1995, operating the restaurant brands Old Wild West, Wiener Haus, Arabian Kebab, Kukkuma and Shi'S.

The company has 130 locations and generates revenues of €130m, with an EBITDA of €33m.

People
Nikos Stathopoulos is a managing partner at BC Partners. Marco Di Giusto is the founder and CEO of Cigierre.

Advisers
Equity – DVRCapital (Corporate finance); UniCredit (Debt advisory); PwC (Financial due diligence); Facchini Rossi & Soci (Tax); Reno (Commercial due diligence); Bonelli Erede (Legal); Dickson Minto (Legal).
Vendor – Rothschild (Corporate finance); NCTM (Legal).
Company – Studio Molaro Romanelli Pezzetta Del Fabbro (Financial due diligence).

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• Topics
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