The Cremonini Group, one of the largest European food operators with a turnover of over €3bn, is to expand the offer across Bagel Factory, the 56-strong chain it acquired earlier this year.
The group said that it would use parts of its upscale bar concept Moka to improve the group’s stores using the “consolidated experience” developed in Italy in station buffets where its subsidiary Chef Express is market leader.
The company, which will run bagel Factory through Chef Express, said that the Bagel chain achieved revenues of c£5.1m in 2011 and said that the acquisition was made on the basis of an enterprise value of £1.1m.
At present, the chain manages directly 13 sites in England, nine of are in prominent train station locations, plus 43 franchise units located across the UK and Ireland.
The acquisition of Bagel Factory, on which Coffer Corporate Leisure advised, marks Cremonini’s proper entrance into the UK transport hub market.
Since 2000 it has managed – through its subsidiary Momentum Service Ltd – the services of catering onboard the 60 English Eurostar trains, which daily link London with Paris and Brussels.
