KHARIS CAPITAL takes majority stake in O'TACOS CORPORATION
Context
Kharis Capital has acquired a majority stake in O'Tacos Corporation, alongside the company's historical founders who will retain operational involvement in the management of the group. This transaction is part of a strategy to accelerate the development of the network, with the goal of supporting growth in France and, more importantly, driving the brand's international expansion. The entry of Kharis Capital enables O'Tacos to leverage the expertise of a specialized investor in the organized restaurant sector, with a proven track record in developing large-scale quick-service restaurant networks across Europe. The transaction also aims to further structure the franchise platform, enhance the group's execution capabilities, and accelerate the opening of new locations in multiple international markets. This move marks a key milestone in O'Tacos' transformation into a European quick-service restaurant brand with international scope.
O'TACOS CORPORATION, which reported an EBITDA margin of in 2018, 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 (10.6x).
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Target
O'Tacos Corporation is a fast-casual dining group founded in 2010 in Bordeaux, specializing in the concept of "French tacos," a hybrid street food product inspired by Mexican cuisine but tailored to European standards. This unique offering combines a filled tortilla, meat, fries, and cheesy sauces. Since its inception, the company has rapidly expanded through a heavily franchised model, relying on a network of independent partners to drive rapid growth. The brand's success is largely driven by a digital and community-focused development strategy, targeting a young, urban demographic that values accessible and customizable dining experiences. As of 2018, the group operates a network of over 160 restaurants in France and internationally, with a presence in several European countries and beyond, including the Netherlands, the United States, and Morocco. The company's positioning is built on a strong standardization of its concept, enabling rapid replication of sales outlets and industrial-scale franchising.
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REFERENCES
Revenue range: 100M - 200M EUR
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Press release: view release
Target: o'tacos corporation
Acquirer: kharis capital