Diana Capital backs Megafood

The GP has taken a 22% stake in the business via the capital commitment. 

The remaining capital in the €16m funding round was provided by the company's existing investors, including the management team, led by the firm's founder and president Martin Alenar. 

Megafood aims to open further stores in the coming years, targeting 100 restaurants by 2017. 

Earlier this year, Diana acquired a 40% stake in Madrid-based children's clothing company Gocco. The transaction was the first completed via the GP's latest fund, which held a first close on €100m in 2011 and was one of the first to receive the backing of government-backed fund-of-funds Fondo ICO.

Company
Founded in 2002 and based in Madrid, Megafood operates the Burger King franchise in Spain. The first such restaurant was opened in the Megapark-Ikea commercial park in San Sebastián de los Reyes, Madrid. The company is currently focusing on expansion across southern Spain. 

People
Daniel Sandoval is investment director at Diana.  

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• Topics
• Southern Europe
• Consumer
• Expansion
• Spain