CRUNCH FITNESS acquired by LEONARD GREEN & PARTNERS

A consortium led by Montefiore Investment has entered exclusive negotiations to acquire a majority stake in Karavel Groupe from Equistone Partners Europe. Financing for the deal is supported by a unitranche debt facility provided by Arcmont Asset Management and Alpha Wave Global. Management, led by Cyrille Fradin and Folco Aloisi, will retain a significant equity stake. This deal follows a seven-year holding period by Equistone, during which the group survived the COVID-19 pandemic thanks to a €30M equity injection

Freeman Spogli agreed to acquire a majority stake in Philz Coffee. This partnership makes sense because Freeman Spogli has deep experience in restaurants like El Pollo Loco, Popeyes, and First Watch, which helps Philz open new stores while keeping its unique handcrafted coffee focus. Philz picks Freeman for their track record in consumer growth and collaborative style, especially as the company plans more cafes over the next two years without closing any locations. Customers and staff benefit from job security, same pay and benefits, promotion paths, and even thank-you bonuses

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

PAI Partners agreed to sell a significant minority stake in European Camping Group to a subsidiary of ADIA. PAI Partners retains majority ownership of the group. The transaction, officially celebrated during the 2025 "Choose France" summit, marks a new phase of development for ECG to pursue geographic diversification and organic growth. The investment by ADIA reportedly totaling EUR600 million for the stake—underscores the attractiveness of the outdoor hospitality sector and ECG's position as its leading pan-European platform

This transaction is a public-to-private leveraged buyout wherein Fortress Investment Group acquires the entire share capital of Loungers. Executed via a recommended scheme of arrangement, the operation successfully delists the target from the public stock exchange following a highly focused and competitive sale process. As part of the structured agreement, existing shareholders were offered the flexible option to exchange their shares for rollover securities alongside the primary cash offer. The strategic rationale driving this major consolidation is to leverage Fortress Investment Group's profound hospitality expertise and massive capital reserves to aggressively fuel Loungers' ambitious national rollout strategy and rapidly multiply its venue portfolio

TIP, through its controlled vehicle Asset Italia 1 srl, has exercised its right of pre-emption to acquire an additional 36.02% stake in Alpitour from Dal 1802. This strategic maneuver follows the suspension of a formal sale process initiated in 2023, as the shareholders elected to consolidate control rather than exit to external bidders. The transaction allows Asset Italia to increase its total shareholding in the tour operator to approximately 94.6% (and up to 95.3% depending on co-sale rights)

FrenchFood Capital and Cerea Partners orchestrated a capital reorganization and equity strengthening of Boulangeries Sophie Lebreuilly. The two funds become the reference majority shareholders, working alongside the founders who remain operationally involved and invested. The deal brings in new minority backers (Sofiproteol, NextStage, etc.) to finance the continued rapid expansion of the network. The objective is to exceed 100 stores by the end of 2025 and deepen the company's ESG commitments (sourcing French wheat, rural employment)

La Compagnie des Alpes (CDA) has finalized the acquisition of a controlling majority stake in Soccer 5 France SAS, the parent company of Urban Group, executing a strategic cross-border corporate buyout within the leisure and sports entertainment sector. The transaction architecture was executed in two coordinated stages, beginning with an immediate equity buyout at closing, supplemented by a locked-in call/put option agreement to transfer an additional stake from the management holding vehicle, Soccer 5 Evolution, later that year

The acquisition of Sticks’n’Sushi by McWin Capital Partners is structured as a control‑oriented acquisition, with McWin securing a majority stake in the business while retaining the existing management team and brand identity. At the time of the transaction, Sticks’n’Sushi operates 27 restaurants across the UK, Denmark, and Germany , illustrating a multi‑market, mid‑market platform that has extended its footprint from its core Danish base to the UK and Germany over many years. McWin positions the transaction as a strategic add‑on to its existing restaurant portfolio, leveraging its scale, sector expertise, and cross‑brand resources to support further expansion in the UK and Germany, two markets where Sticks’n’Sushi is still relatively nascent

Shamal Holding, a Dubai-based investment firm, completed the acquisition of the remaining stake in SUSHISAMBA Group, taking full controlling interest in the global restaurant brand. This transaction represents the culmination of a decade-long partnership, as Shamal Holding had been a fifty percent owner of the brand since 2014. The strategic rationale for the acquisition is deeply rooted in Shamal's vision to expand its global portfolio of high-end hospitality and lifestyle assets. By taking full control, Shamal aims to leverage its resources and expertise to accelerate SUSHISAMBA's international growth and drive the next phase of its evolution as an iconic dining and entertainment concept