QuattroR joins BC Partners to support Cigierre's growth
BC Partners, a leading international investment firm, and QuattroR, a private equity fund distinguished by its strong commitment to fostering the growth of outstanding Italian companies with solid industrial and technological fundamentals, announce QuattroR's minority investment in Cigierre - Compagnia Generale Ristorazione S.p.A., a leading player in the Italian casual dining sector.
The investment in Cigierre was executed through the subscription of a substantial capital increase with co-investments from Anthilia Capital Partners SGR and the Company's management. Following this operation, funds advised by BC Partners will retain the Group’s majority ownership.
This transaction marks the beginning of a strategic partnership among QuattroR, BC Partners, and the founder and CEO, Marco Di Giusto, with the objective of supporting Cigierre’s next phase of growth. By leveraging complementary expertise, a shared vision, and dedicated resources, the partnership aims to strengthen the company’s presence in Italy while optimizing its financial structure. Concurrently with QuattroR’s entry into the company’s capital, Cigierre has successfully completed the refinancing of its long-term capital structure, benefiting from the strong support of both existing creditors and new investors. Founded in 1995, Cigierre – Compagnia Generale Ristorazione S.p.A. is the leading company in Italy’s chain restaurant sector, particularly in the Casual Dining segment. The Group boasts a network of over 360 locations, including 230 directly operated restaurants and more than 130 franchised establishments, under well-known brands such as Old Wild West, Wiener Haus, America Graffiti, Smashie, and Pizzikotto. Throughout its history, Cigierre has demonstrated a strong and consistent growth trajectory, supported by a solid organizational structure. Following a swift recovery from the challenges posed by the Covid-19 pandemic, the company has achieved over €400 million in revenue and €65 million in EBITDA.
Nikos Stathopoulos, Chairman of Europe at BC Partners and Chairman of the Board of Directors of Cigierre, remarked: "We are pleased to welcome QuattroR SGR as a new shareholder in Cigierre. We share a common vision for the Group’s growth potential and, most importantly, a deep confidence in the management team, as we continue to support the founder and CEO, Marco Di Giusto".
Stefano Ferraresi, Partner and Head of Italy at BC Partners, added: "QuattroR’s investment in Cigierre represents a significant opportunity for the Group, providing not only additional capital to support its growth strategy but also valuable expertise in the Italian market. This will complement BC Partners’ track record and the capabilities of the company’s management team".
Flavio Valeri, Chairman of QuattroR SGR, commented: "Our investment in Cigierre represents the ideal launch of the deployment phase of the new QuattroR Mid Cap fund. This initiative underscores our commitment to supporting Italian excellence—companies with solid fundamentals and highly recognizable brands—over the medium to long term".
Francesco Conte, CEO of QuattroR SGR, stated: “We are pleased with our investment in Cigierre and the growth plan, developed in full alignment with BC Partners, founder and CEO Marco Di Giusto, and the financial institutions. We firmly believe in the value of collaboration and the importance of building synergies to drive sustainable growth. We are confident that our partnership with BC Partners will enable Cigierre to accelerate its consolidation strategy in Italy, through the expansion of its well-established brands and the development of high-potential new formats, with the ultimate goal of generating long-term value for all stakeholders”.
Marco Di Giusto, founder and CEO of Cigierre, added: “The entry of QuattroR alongside BC Partners, together with the refinancing of our long-term capital structure, reaffirms the strong value and growth potential of our company, which has been present in the market for 30 years. We face significant challenges and ambitious growth objectives, but my team and I are ready to tackle them with the same determination that has defined our journey so far. We warmly welcome QuattroR”.
In this transaction, BC Partners was advised by Latham & Watkins and Facchini Rossi Michelutti – Studio Tributario. QuattroR was assisted by Chiomenti, KPMG, and Studio Spada, while Cigierre received counsel from Studio MPRD Molaro, Pezzetta, Romanelli, Del Fabbro, and BCG. The EY Capital & Debt Advisory team supported Cigierre in the refinancing process.
ABOUT BC PARTNERS BC Partners is a leading investment firm with circa €40 billion in assets under management across private equity, private debt, and real estate strategies. Established in 1986, BC Partners has played an active role for over three decades in developing the European buy-out market. Today BC Partners integrated transatlantic investment teams work from offices in Europe and North America and are aligned across our four core sectors: TMT, Healthcare, Services & Industrials, and Food. Since its foundation, BC Partners has completed over 128 private equity investments in companies with a total enterprise value of over €160 billion and is currently investing its eleventh private equity buyout fund. For further information, please visit https://www.bcpartners.com/
ABOUT CIGIERRE Founded in 1995, Cigierre – Compagnia Generale Ristorazione S.p.A. is the Italian leader in the chain restaurant sector and in particular in Casual Dining, with over 360 points of sale (230 directly operated and more than 130 in franchising) and brands Old Wild West, Wiener Haus, America Graffiti, Smashie and Pizzikotto. Throughout its history, Cigierre has demonstrated a strong growth trend thanks to a consolidated organizational structure and, after the rapid recovery from the years affected by the Covid-19 pandemic, today it expresses a turnover of over Euro 400 million with Euro 65 million of EBITDA.