Big Mamma, the Italian restaurant group founded in 2015 by Tigrane Seydoux and Victor Lugger, has secured investment from a new majority partner, McWin.
Made out of the McWin Restaurant Fund, the investment values Big Mamma at €270m (£233m), and will see the group continue to expand in Europe, as well as look towards new locations such as the Middle East and the United States.
McWin’s is led by co-founding partner Henry McGovern, the co-founder and former CEO of AmRest, a multinational casual dining, QSR and coffee shop operator headquartered in Madrid, and partner Steven Winegar.
The investment firm currently backs Gail’s Bakery, White Rabbit Projects and Vapiano.
Big Mamma, which operates Gloria, Ave Mario, Circolo Popolare and Jacuzzi, has already expanded in France, the UK, Monaco, Spain, and Germanym, and has an estate of 23 restaurants.
The group plans to continue opening venues in cities where it already has a presence, as well as exploring new locations.
Seydoux and Lugger will continue to run the company as co-CEOs and will remain key shareholders of the company.
An immersive restaurant group, with each trattoria aiming to transport customers to Italy, Big Mamma is known for its authentic ingredients sourced from Italy, convivial service and maximalist interiors.
The B Corp-labelled group has 2,400 staff and serves 15,000 customers a day.
The team will leverage the long-term partnership with McWin, which has decades of experience of working with founders and developing pioneering restaurant brands, to become a “world leading brand in affordable experiential luxury”.
The transaction is expected to close in Q4 2023.
Tigrane Seydoux, co-founder of Big Mamma, said: “It is with great excitement that we join forces with the McWin team. We are delighted to have a partner who shares our vision of running a responsible hospitality adventure with a collective approach, uncompromising quality, and a strong passion for respecting culture, products and Italy. It’s the starting point for new dreams and challenges, in line with our desire to constantly elevate with even more exceptional and experiential restaurants”.
Victor Lugger, co-founder of Big Mamma, added: “We are extremely grateful to our original backers for their guidance and support, and without whom this journey would not have been possible. This provides an opportunity for us to cement these strong foundations, whilst bringing in a new long-term partner for Tigrane and myself. We couldn’t have wished for better partners than Henry, Steve and their team. They are inspiring players who know and understand the field, the importance of detail and operational excellence, and who share our crazy dream of revolutionising the dining experience for our guests on a daily basis.”
Henry McGovern, co-founding partner at McWin commented: “I have seen a lot of change and innovation in this industry over the last three decades, and I truly believe that Tigrane and Victor are visionaries. They have pioneered a new type of restaurant experience, providing customers with a truly unique and memorable visit at every site. We are delighted to join the Big Mamma family on its next stage of growth.”
Harry Goss, partner and head of food service at McWin, added: “What the team at Big Mamma has achieved in 9 years is nothing short of remarkable. Successfully crossing borders in our industry is never easy and they have done it four times, soon to be five! They understand what the customer wants and they have been bold in their delivery. It is an incredible story and we are honoured to be a part of it.”
