Aureos invests in Peruvian restaurant group
The Aureos Latin America Fund (ALAF) has acquired a significant stake in the Peruvian restaurant business, Acurio Restaurantes.
This investment is ALAF’s 12th investment in Latin America and its third in Peru.
ALAF is managed by a subsidiary of Aureos Capital, a small and mid-cap private equity fund manager specialising in global growth markets.
Acurio Restaurantes operates a range of restaurants in the Peruvian cuisine segment of the market. Since its establishment in 1994, the group has launched 32 casual and fine-dining restaurants around the world, with 19 in major cities outside of Peru, including New York, San Francisco, Sao Paulo, Mexico City, Buenos Aires and Santiago.
Acurio Restaurantes include Tanta, a family-oriented restaurant chain in Peru; La Mar, a Peruvian fine dining seafood chain; and Astrid y Gastón, which is ranked in the “San Pellegrino World’s 50 Best Restaurants” in 2011. The group, originally founded by internationally renowned chef Gastón Acurio, is now operated by a professional management team, supported by a team of executive chefs.
Hector Martinez, partner and head of Aureos’ operations in Peru, says: “Peru’s gastronomy industry is a fast-growing sector both locally and internationally. We are seeing a growing trend in markets outside of Latin America for the consumption of Peruvian cuisine which plays into our value creation strategy of growing Acurio Restaurantes footprint in these lucrative markets.”
Gaston Acurio, founder of Acurio Restaurantes, says: “We are delighted to welcome Aureos as a shareholder in our company. We look forward to working with such a high profile international investor and leveraging Aureos’ global presence to grow our business in existing markets and expand it into new ones, fulfilling our vision to introduce Peruvian cuisine to the world.”
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