Vino Tinto (Spain) - Nov 2007

unquote
01 November 2007

Tweet
Facebook
LinkedIn
Google plus
Send to

Monitor Capital has acquired a majority stake in Spanish restaurant franchise Vino Tinto, in a deal valued at more than €4m. The company was acquired from the founder who retains a significant minority position and will remain actively involved in the company.

Company

Valladolid-based Vino Tinto is a food retailer specialising in tapas and meat and fish grilled Spanish style. The company was founded in 1997 by Oscar Garrote who is part of a family with a 36-year history in the restaurant business. The franchise has eight establishments, two of which are company owned and six are franchises. In 2007 it reported a turnover of around €8m. The investors’ plan is to proceed with an aggressive growth strategy, strengthening the brand’s already established position in the central Spain, Catalonia, the Balearics and Madrid areas. Negotiations to open restaurants and franchises in the US and the UK are undergoing, with locations in London, Miami and New York already selected. This is part of a larger development strategy that includes creating synergies between Vino Tinto and Entretapas y Vinos (20 tapas restaurants) also recently acquired by Monitor Capital, combining both concepts (see below). The roll-out plan aims at tripling the number of sites over the next two years, opening 15 franchises and five company-owned restaurants in 2008.

People

Robert G Warfield, Margarita García de la Calle and Almudena García of Monitor Capital led the deal.

Advisers

Equity - DLA Piper, Eduardo Lucas, Joaquín Echánove, Sol Zabala (Legal)Equity - KPMG, Juan José Cano (Financial Due Diligence)Vendor - Garrote Abogados, (Legal)

Sourced from: Southern Europe unquote" 71 (Feb 2008)