Meridia Capital has acquired a significant minority stake in Grupo Andilana, a casual dining restaurant chain and hotel operator in Spain.
As a result of Meridia’s investment in the company, Andilana will now look to accelerate its growth plans both organically and by increasing its restaurant rollout programme.
Meridia will work in close cooperation with Andilana’s current managing team that will continue leading the firm’s activity.
Established in 1958 and with over 25 restaurants across Spain, Andilana offers its customers traditional Mediterranean cuisine in a cosy and fashionable atmosphere at affordable prices. With more than 2.5 million customers per year and revenues of approximately EUR40 million, Andilana’s restaurants are located in central Barcelona and Madrid, as well as in Costa Brava.
Andilana is Meridia Private Equity I’s second investment. This fund seeks to partner with existing shareholders of profitable growing companies across different sectors, backed by outstanding management teams and with revenues in the range of EUR15 million to EUR70 million. The target fund size is set at EUR125 million and each investment is expected to range from EUR10 million to EUR25 million in equity.
Daniel Camós, chairman, and Ramón Puig, CEO at Grupo Andilana, say: “We have worked hard in these past years to grow Andilana’s presence in the market and we look forward to this new stage in the company’s development. Amongst others, we share with Meridia strong entrepreneurial roots which is why we envisage them as the ideal partner to help us realise our growth ambitions and we are delighted to be working with them.”
David Torralba, partner private equity at Meridia Capital, says: “Andilana fits perfectly into Meridia’s private equity investment criteria, with established operations in a sizeable and growing market and with a proven and solid business model. We believe that Andilana is well positioned to capture the attractive growth opportunities ahead of us and we are looking forward to partnering up with them.”
Meridia Capital’s founding partner and CEO Javier Faus says: “Andilana demonstrates Meridia Private Equity I’s traction and the continuing leverage of our platform within the Spanish private equity middle market.”
