London-based private equity group McWin has acquired a majority stake in Big Mamma, the French-owned Italian restaurant group operating across five countries, in a deal that values the business at €270m, according to a report by The Financial Times.
The funding from McWin, which also owns the Gail’s Bakery chain, will be used to fund an expansion push in the US and the Middle East, building on Big Mamma’s existing portfolio of 23 restaurants.
As part of the deal, Big Mamma’s co-founders Victor Lugger and Tigrane Seydoux will continue to run the business and retain a minority stake, while a group of 17 early investors, including French telecoms billionaire Xavier Niel and media tycoon Stéphane Courbit, will exit their investments.
As well as Big Mamma, which is known for its playfully named dishes, extravagant interior design, and affordable prices, and Gail’s, McWin also backs pasta restaurant Vapiano and White Rabbit Projects, the venture behind Indian restaurant Kricket and Italian delicatessen Lina Stores.
