BIG FERNAND acquired by BLUEGEM CAPITAL PARTNERS
Context
BlueGem Capital Partners acquired an 80% stake in Big Fernand from its founders and the SEP family office (Riccobono family) to accelerate the brand’s global trajectory. The transaction included an immediate capital injection of at least €7 million to fund a massive scale-up, with the goal of reaching 100 restaurants shortly after the deal. The strategic rationale was focused on transitioning Big Fernand from a successful national niche player into a global gourmet burger champion. Key post-acquisition initiatives included the buyout of franchised locations in Hong Kong to bring them under direct control and the opening of several flagship locations in Paris. Founder Steve Burggraf remained as President with a 6% equity stake to ensure brand continuity and preserve the "French touch" DNA that fueled the company’s initial success. This partnership provided Big Fernand with the institutional framework and international network required to compete in the increasingly crowded premium fast-casual market.
BIG FERNAND, which reported an EBITDA margin of in 2017, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (11.0x).
-> Deep-dive in Retail & Consumer market trends
Target
Big Fernand is a pioneer of the "Gourmet Burger" movement in France, blending fast-food efficiency with French gastronomic quality. Founded in 2011 by Steve Burggraf, Alexandre Auriac, and Guillaume Pagliano, the brand quickly established a cult following through its quirky French branding, high-quality locally sourced ingredients (premium meats, unpasteurized French cheeses), and customized service. In 2017, the group operated 35 restaurants across France, London, and Hong Kong. The business model utilizes a mix of company-owned sites and franchises, focusing on high-traffic urban areas. Big Fernand's value proposition is centered on "le manger bon et rapide" (eating good and fast), effectively disrupting the traditional fast-food market by capturing the mid-to-high-end consumer segment looking for an authentic and premium casual dining experience.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Similar deals in Hospitality & Leisure
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2017 | FREEMAN SPOGLI | CAFE RIO | UNITED STATES | Restaurants / Chains |
| 09/2017 | GLOBAL FRANCHISE GROUP | ROUND TABLE PIZZA | UNITED STATES | Restaurants / Chains |
| 04/2017 | BLUEGEM CAPITAL PARTNERS | GRUPO RESTAURACIÓN LATERAL | SPAIN | Restaurants / Chains |
| 04/2017 | JAB BEECH | PANERA BREAD COMPANY | UNITED STATES | Restaurants / Chains |
| 12/2016 | ICG | PARK HOLIDAYS | UNITED KINGDOM | Hospitality |
| 10/2016 | GENERAL ATLANTIC / VALEDO PARTNERS | JOE & THE JUICE | DENMARK | Restaurants / Chains |
| 07/2016 | MTY FOOD GROUP | KAHALA BRANDS | UNITED STATES | Restaurants / Chains |
| 07/2016 | JAB BEECH | KRISPY KREME DOUGHNUTS | UNITED STATES | Restaurants / Chains |
| 05/2016 | SEVEN2 | SANDAYA | FRANCE | Hotels & Accommodation |
| 05/2016 | PUBLIC MARKETS (IPO) | BASIC-FIT | NETHERLANDS | Hospitality |
REFERENCES
Revenue range: 5M - 25M EUR
EBITDA range: 0M - 5M EUR
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of BIG FERNAND by BLUEGEM CAPITAL PARTNERS are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: big fernand
Acquirer: bluegem capital partners