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 LOGIN in 2017, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.0x).
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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.
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Historical Financials (EUR)
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REFERENCES
Revenue range: 5M - 25M EUR
EBITDA range: 0M - 5M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: big fernand
Acquirer: bluegem capital partners