Bluegem Capital Partners takes majority stake in Big Fernand

FRANCE Hospitality & Leisure / Hospitality / Restaurants / Chains REV €5–25M

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 [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of [members only].

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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

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2017

2016

Other operations with Bluegem Capital Partners

Other operations with Bluegem Capital Partners
Date	Acquirer	Target	Country	Sector
06/2022	BLUEGEM CAPITAL PARTNERS	FOODBOX	SPAIN	Restaurants / Chains
04/2017	BLUEGEM CAPITAL PARTNERS	GRUPO RESTAURACIÓN LATERAL	SPAIN	Restaurants / Chains

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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
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REFERENCES

Revenue range: REV €5–25M

EBITDA range: €0–5M

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.

Target: big fernand

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Big Fernand, a French company specialised in Hospitality, by Bluegem Capital Partners in 2017, structured as a growth equity investment to support its development.

What were Big Fernand’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Big Fernand generated annual revenue estimated in the €5–25M range and EBITDA in the €0–5M bracket (FY 2017). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is supported by three corroborating sources: an official corporate announcement published by the parties, independent reporting from specialized financial publications, as well as a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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