Private equity firm McWin has taken a majority stake in Italian restaurant group Big Mamma, in a deal that values the company at €270m (£233m).
Big Mamma Group, which was founded by Victor Lugger and Tigrane Seydoux (pictured) and won the Restauranteur of the Year – Group Catey in July, operates 23 restaurants across five countries including five London sites.
The investment from McWin, which also backs bakery chain Gail's, German pizza and pasta chain L'Osteria and hospitality incubator White Rabbit Projects, will drive the expansion of the group into the Middle East and the US. Seydoux and Lugger will continue to run the company as co-CEOs and remain shareholders.
Seydoux said: "It is with great excitement that we join forces with the McWin team. We are delighted to have a partner who shares our vision of running a responsible hospitality adventure with a collective approach, uncompromising quality, and a strong passion for respecting culture, products and Italy.
"It's the starting point for new dreams and challenges, in line with our desire to constantly elevate with even more exceptional and experiential restaurants."
Henry McGovern, co-founding partner at McWin added: "I have seen a lot of change and innovation in this industry over the last three decades, and I truly believe that Tigrane and Victor are visionaries. They have pioneered a new type of restaurant experience, providing customers with a truly unique and memorable visit at every site. We are delighted to join the Big Mamma family on its next stage of growth."
Big Mamma Group was founded in Paris by Lugger and Seydoux, in homage to the traditional Italian trattoria, with the aim to serve good food and a great atmosphere at affordable prices.
In 2019 it entered the UK market with Gloria in Shoreditch, which was an instant hit with the capital's diners. Since 2019 the group has replicated the success of Gloria across four more London locations, each with its own distinct identity. The restaurant group has strong sustainability credentials and has achieved B-Corp status as well as using 100% renewable energy across it sites.
Awarding it the Restauranteur of the Year – Group Catey earlier this year our judges said: "The Big Mamma boys bring fun and extravagance to the London restaurant world."
Lugger said: "We are extremely grateful to our original backers for their guidance and support, and without whom this journey would not have been possible. This provides an opportunity for us to cement these strong foundations, whilst bringing in a new long-term partner for Tigrane and myself."
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