BC Partners, the private equity backer of Cote, has acquired a majority stake in Italian casual dining group Cigierre, in a deal valued at €300m (£212m).
Founded in 1995, the company, which is led by Marco Di Giusto, operates more than 180 directly-operated and franchise restaurants across Italy and is currently generating EBITDA of around €33m on revenues of some €130m. Its main brand is the Tex Mex restaurants format Old Wild West.
Nikos Stathopoulos, managing partner at BC, said: “Cigierre is one of the fastest growing companies in Italy and one of the most innovative restaurant businesses in Europe.
“We look forward to partnering with the founder and CEO Marco Di Giusto and his entrepreneurial management team to continue the roll-out of the existing formats, as well as developing and acquiring other restaurant concepts in Italy and internationally.”
BC said it saw scope for doubling Cigierre’s current estate, expanding across a wide range of locations and venue types, as well as developing additional restaurant formats.
It also said it would consider selective international expansion and acquisitions in the future.
Earlier this year, BC acquired Cote in a deal, which valued the now 70-strong chain at c£250m.
