At what enterprise value was CIGIERRE acquired in 2015?

During the acquisition of CIGIERRE by BC PARTNERS in 2015, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.3x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of CIGIERRE when it was acquired by BC PARTNERS?

The estimated EV/EBITDA multiple for CIGIERRE is in the range of 5x - 12x. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.3x. Join our community for free to access full valuation data and industry trends.

When was CIGIERRE acquired by BC PARTNERS?

CIGIERRE was acquired by BC PARTNERS in 2015.

What was the revenue of CIGIERRE at the time of the deal?

The revenue of CIGIERRE at the time of the deal is estimated to be in the range of 100M - 200M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of CIGIERRE during the acquisition?

CIGIERRE's EBITDA is estimated to be in the range of 25M - 50M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the CIGIERRE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the CIGIERRE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.bcpartners.com/news/bc-partners-acquires-cigierre/

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Home Database Retail & ConsumerCIGIERRE

11/2015

CIGIERRE

Acquired by

BC PARTNERS

ITALY Hospitality & Leisure / Hospitality / Restaurants / Chains EV 300M - 700M EUR

CIGIERRE acquired by BC PARTNERS

ITALY Hospitality & Leisure / Hospitality / Restaurants / Chains EV 300M - 700M EUR

Context

BC Partners agreed to acquire a majority stake in Cigierre from founder and CEO Marco Di Giusto, L Capital, and Paladin Capital Partners in a secondary‑type buy‑out transaction, with the deal expected to close in early 2016 subject to regulatory approvals. The transaction is structured as a classic European private equity‑backed LBO, with BC Partners‑advised funds providing the controlling equity investment while the founder retains a minority stake and continues as CEO, preserving management continuity and entrepreneurial alignment. At the time of the deal, Cigierre operated over 180 casual‑dining restaurants across Italy, combining company‑owned and franchised sites under brands such as Old Wild West, Wiener Haus, Arabian Kebab, Kukkuma, and Shi’S, and had grown revenue and EBITDA by about 40% per year over the prior four‑year horizon, reflecting best‑in‑class unit economics and a strong development pipeline targeting 25 new openings annually. The Italian platform is positioned as a leading reference point for casual dining and restaurant franchising, with a clear roadmap to expand both existing formats and new concepts in Italy and, potentially, internationally.

CIGIERRE, which reported an EBITDA margin of LOGIN in 2014, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the average currently observed in the Retail & Consumer sector (11.3x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Cigierre – Compagnia Generale Ristorazione S.p.A. is Italy’s leading casual‑dining restaurant group, operating a large network of themed, mid‑price dining formats across the country. Founded in 1995 in Udine, the company has grown into a multi‑brand platform with more than 360 locations, including around 230 company‑owned and over 130 franchised restaurants under brands such as Old Wild West, Wiener Haus, America Graffiti, Smashie, and Pizzikotto. These concepts span American‑style steakhouses and burger houses, Central European‑style meat‑focused outlets, and Italian‑style pizzerias, allowing Cigierre to capture a diversified customer base and time‑of‑day usage.

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Other operations with CIGIERRE

Date	Acquirer	Target	Country	Sector	Deal Context
03/2025	QUATTROR / ANTHILIA CAPITAL PARTNERS	CIGIERRE	ITALY	Hospitality & Leisure	BC Partners, the existing majority owner of Cigierre, brings in QuattroR SGR and Anthilia Capital Partners as minority co‑investors through a substantial capital increase, with additional co‑investments from the company’s management and existing shareholders. The transaction is structured as a minority growth‑equity and refinancing package: funds advised by BC Partners retain majority control, while QuattroR and Anthilia provide fresh equity capital to support Cigierre’s next‑phase expansion plan and to optimize the group’s long‑term capital structure. The deal is paired with a comprehensive refinancing that strengthens Cigierre’s balance sheet by reshaping its long‑term debt profile with input from both existing and new financial partners, thereby improving flexibility and reducing refinancing risk.

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 100M - 200M EUR

EBITDA range: 25M - 50M EUR

Note: Detailed and exact financial metrics (Enterprise Value, Revenue, EBITDA, and precise Multiples) are reserved for Mynth community members. Register for free to unlock full data.

Authors: 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: cigierre

Acquirer: bc partners