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New deal : CAFÉ Y TE

New deal : CAFÉ Y TE

Kartesia announced today that it has arranged & underwritten a 26M€ unitranche loan financing towards the acquisition by H.I.G. Europe of Café y Té and Panaria, thereby creating the leading Iberian operator of casual dining. The financing includes a capex facility to fund the rollout of the store network over the next four years.

The entity resulting from the merger of both companies, Compañía del Trópico, operates a network of 247 outlets, ca. 50% of which are directly operated and the remaining are franchises, thus becoming the #1 player in this segment by number of owned stores. The Company operates bakeries, coffee houses and tapas bars located in shopping centers, premium on-street spots and city hotels. The portfolio of brands include Café y Té, Panaria, Café y Tapas, Charlotte Café, Caffé di Roma, Bocados Café, Sky Madrid, etc. Compañía del Trópico is based in Barcelona and employs ca. 700 people.

Jaime Prieto, Managing Partner of Kartesia, said, “We are delighted to have been instrumental in the creation of the leading casual-dining chain in Spain, led by Antonio Pérez, the founder of Panaria, and HIG Europe. The combined entity has proven its resilience through the worse part of the cycle, and is now in a great position to grow both organically and via acquisitions.”

About Café & Té

Founded in 1973 by Mr. Gustavo Ron, Café & Té is a leading Spanish coffee shop chain. Café & Té operates a network of 147 coffee shops, 101 owned and 46 franchises. The company's owned and franchised coffee shops sell coffee, tea, ice cream, tropical juices, paninis, baguettinis, toast, pancakes, natural shakes, pastries, hamburgers, salads, chocolate, smoothies, milkshakes and frappes, cake, pasta, pizza, sandwiches, and fresh baked goods. Café & Té is top of mind with Spanish consumers and it ranks second compared with the rest of coffee shop franchises in Spain.

About Panaria

Panaria is a fast-growing premium bakery and coffee shop concept based on a high-quality product offering. Its wide product offering comprises bread and bakery, sandwiches, pizza, etc. It also offers lunches and catering services. Panaria was founded in Valencia in 2010 by Mr. Antonio Pérez and, in 4 years, has achieved a network of more than 60 coffee shops with 10 DOS and more than 300 employees.

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