Groupe Bertrand, France’s leading independent restaurant group of about 850 restaurants, has sold the Quick brand to US fund HIG Capital, which was announced on Monday, four years after reselling Quick restaurants in Belgium and Luxembourg.
High “Plans to complete this acquisition by the end of the year after obtaining permission from the competition authorities» Define a press release without indicating the amount of the transaction.
It has acquired a network of 107 Quick Restaurants SA in France, which serves about 36 million meals a year – only halal meat, in which it has specialized over the years”From Burger King France», a subsidiary of Groupe Bertrand, refers to HIG, and therefore will fall into the hands of the US fund.
The deal amount will be 240 million euros, according to Agefi, which indicated in January that Groupe Bertrand wanted to end the sale of its fast-food restaurants in France. He vowed to do so after winning the Burger King franchise in France.
“Our investments will support the rapid management team during the transition phase to an independent group, and above all accelerate the expansion of the restaurant network with the aim of doubling the number in the coming years”Olivier Boyadjian, CEO of HIG Capital, said in the press release.
In addition to Kwik to date, the group founded by Olivier Bertrand owns the Burger King fast-food chain as well as major Parisian Brycean factories such as Leib, La Coupole and Le Vaudeville.
At the end of 2015, he announced the purchase of the fast-food chain Quick, located in France since 1980, which acquired 401 restaurants spread in France, Belgium and Luxembourg, but also in foreign regions, in Tunisia, Turkey and Morocco.
But three months later, Belgian and Luxembourgish fast-food restaurants put up for sale, before launching in mid-2016 in France, a plan to transform Quick restaurants under the American Burger King banner, a process that was due to be completed last year, the first of which was the sale of 101 Belgian restaurants and Luxembourg fast to QSR Belgium.
«Health restrictions have slowed us down on this project» Transforming fast food restaurants under the Burger King banner, Jerome Taffany, responsible for the two brands in France within the Bertrand Group, told Agefi in January.
HIG has approximately $45 billion in assets under management, and specializes inInvesting in stocks and debt in medium-sized companies», select the press release.
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