RyC advises banks on Comess Group´s debt restructuring
Ramón y Cajal Abogados has advised the financial entities on Comess Group´s debt restructuring, following GED Capital´s investment
GED Capital, a Private Equity group specialised in the Iberian low middle-market segment, has invested in Comess Group S.L. through its fund GED VI Spain and a capital increase, becoming the company’s majority shareholder along with the existing partners, Manuel Robledo, president and founder of the company, and Oquendo.
Founded in 1988, Comess Group is a restaurant group that operates more than 200 franchise restaurants in Spain and a dozen other countries today. In 2016, Oquendo entered the share capital of Comess Group to back the acquisition of the DonG brand and provide financial firepower. Now, following the entry of GED Capital, the group intends to position itself as a reference in the Spanish restaurant franchise industry.
The capital increase was aimed at the acquisition of a majority stake in Italian franchise group Pomodoro, which currently operates 117 restaurants in Spain and Portugal. The founders of Pomodoro will remain in the company and will lead the expansion of the brand in the next years.
The combined group resulting from the merger of the two companies will become one of the largest restaurant franchise groups operating a network of 320 restaurants including brands such as Lizarran (tapas bar), Pomodoro (Italian restaurants), Cantina Mariachi (Mexican restaurants), DonG (Spanish fast food), Casa Garcia (traditional Spanish bar), and others.
Ramón y Cajal Abogados advised the financial entities on the group´s debt restructuring with a team led by partner Amado Giménez (pictured) together with associate Diego Gabarain and lawyer Elisa Ribas de Reyna.
On GED Capital´s investment, KPMG performed the Financial DD, Eversheds Sutherland the Legal, Tax and Labour DD, Broseta acted as legal advisor to Comess and KWM as legal advisor to GED.