Fund managed by Alfa Capital Partners has become a shareholder in the Yolky-Palky Russian restaurant chain
20 Dec 2007
Moscow, 20 December 2007 – The Private Equity Fund managed by Alfa Capital Partners (ACP) announced that they have acquired a significant interest in the company which manages the Yolky-Palky restaurant chain, a rapidly growing mid-priced restaurant chain that serves Russian national cuisine. Additional financing was provided by the International Moscow Bank.
Yesterday the Board of Directors of Restoranniy Operator, the chain’s new management company, approved the appointment of Valery Konnov as General Director, and of Alexander Baranchikov as Financial Director.
Restoranniy Operator intends to concentrate on developing the current brands Yolky-Palky and Malenkaya Yaponiya, and also to expand its chain by acquiring new assets.
The Yolky-Palky chain was set up in 1996. At present it operates 47 restaurants of both Yolky-Palky and Malenkaya Yaponiya, nine of which were opened this year.
Richard Sobel, Chief Executive Officer of ACP, commented: “We see great opportunities in the rapidly expanding casual dining sector, and are very pleased to be partnering with the existing owners of Yolky-Pakly, who have developed a leading company. We intend to work closely with existing and new managers to invest and grow this exciting business.”
Valery Konnov, Yolky-Palky’s General Director, said: “Obtaining additional finance presents us with great opportunities to develop the chain by generating a system for new franchises, and substantial prospects for the company’s future growth. We believe partnering with ACP will allow us to achieve these objectives.”
|
