Private investment company McWin Capital Partners has signed a partnership deal to acquire a majority stake in Italian restaurant group Big Mamma Group.
This announcement was made by McWin Capital Partners in a LinkedIn post on 19 September.
The acquisition is part of McWin Capital’s strategy to strengthen its position in the European dining industry.
It was supported by McWin Restaurant Fund, a €525m ($561.5m) fund set up by McWin to invest in large-cap restaurant groups and brands.
According to a report by the Financial Times, Big Mamma is valued at approximately €270m following this transaction.
The report said that this deal is scheduled to be completed by the end of this year.
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As per the deal, Big Mamma’s co-founders, Victor Lugger and Tigrane Seydoux, will retain their co-CEO positions and remain minority stakeholders.
A report by the Caterer noted that the Italian restaurant group is expected to use the proceeds from the stake sale to further expand the group into the Middle East and the US.
The Caterer quoted Seydoux as saying: “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.”
Big Mamma serves more than 15,000 clients daily and currently has 23 restaurants across five European countries, including the UK.
McWin co-founding partner Henry McGovern said: “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.”