Oquendo buys stake in Comess Group

Oquendo invested through its Oquendo Mezzanine II fund, providing a mix of equity and mezzanine facilities, unquote" understands.

According to a statement, the fresh capital will enable the company to bolster its expansion plans through strategic acquisitions.

To date, Comess chair Manuel Robledo owns a controlling stake in the business. According to press reports, Oquendo bought a 30% stake. As part of the deal, a representative from Oquendo will take a seat on the company's board.

Company
Established in 1988 and headquartered in Madrid, Comess Group manages several restaurant chains, including Lizarran, Cantina Mariachi and Pasta City.

The business has 250 restaurants across Europe, the US, Mexico, Panama, Ecuador, Chile, China, Japan and Morocco, and aims to reach 450 restaurants within five years.

The group generates a combined turnover of €100m and employs 3,200 people.

People
Oquendo Capital – Rocio Goenechea (investment associate).
Comess Group – Manuel Robledo (chair, CEO); Francisco Javier Royo-Villanova (CFO).

Advisers
Equity – Fidentiis Capital (M&A); KPMG (financial due diligence); Broseta (legal).
Company – DJV Abogados (legal).

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• Topics
• Expansion
• Consumer
• Southern Europe
• Spain