Spain-based restaurant chain Goiko Grill has secured an undisclosed amount of funding. The investor was L Catterton.
GREENWICH, Conn., PARIS and MADRID, June 7, 2018 – L Catterton, the largest and most global consumer-focused private equity firm in the world, today announced the signing of a definitive agreement to make a strategic investment in Goiko Grill, one of Spain’s most successful casual dining concepts.
Founded in Madrid in 2013, Goiko Grill is the fastest growing full-service restaurant chain in the Spanish gourmet burger casual dining space. The Company currently operates 44 locations in Spain, delivering daily on its customer promise of “the best burgers and the best service, efficiency and good vibes” to an increasing numbers of patrons. Goiko Grill benefits from an unmatched brand awareness and visibility in the Spanish restaurant market thanks to its high exposure on social media, which translates to a highly engaged and loyal customer base. The Company also pioneered the development of the delivery-specialized kitchen to actively address the booming delivery market and is poised to accelerate its growth in Spain and internationally.
Andoni Goicoechea, Goiko Grill Founder and CEO, said, “We are extremely thrilled to partner with L Catterton to further develop Goiko Grill’s brand and expand our footprint. With L Catterton’s support, we plan to continue opening new restaurants in Spain while developing the Company abroad. Over the next few years, this partnership will propel us forward by providing us access to the unmatched knowledge and network of L Catterton. Goiko Grill attracted a lot of interest from various investment firms, but we chose L Catterton because we share the same vision and passion for providing customers the highest quality. We firmly believe that L Catterton will strengthen our business with their unparalleled expertise in scaling and operating restaurant chains globally.”
Eduardo Velasco, Partner of L Catterton, said, “Partnering with Goiko Grill and its outstanding management team and staff is a fantastic opportunity to participate in the development of one of Spain’s most iconic brands in the casual dining space. In less than five years, Goiko Grill has become a leader in its market segment thanks to its distinctive and high-quality burgers, great service and ambiance, and its effective digital marketing strategy. These strengths continue to be the key pillars of the Company’s business model going forward and we’re looking forward to supporting the team in this outstanding growth journey.”
L Catterton has significant experience investing in casual dining concepts globally. Current and past investments in the space include Anthony’s Coal Fired Pizza, Cheddar’s Scratch Kitchen, Cigierre, Crystal Jade, Groupe Bertrand, Hopdoddy, Mendocino Farms, Outback Steakhouse and P.F. Chang’s.
About Goiko Grill
Founded in 2013 by Andoni Goicoechea, Goiko Grill is the best performing full service casual gourmet-burger restaurant chain in Spain, recognized for its tasty and highly craveable products, its efficient and enjoyable service as well as the good ambiance of its venues. Headquartered in Madrid, the Company currently operates 44 sites, in 15 Spanish cities and plans to cover 20 cities with 58 venues by the end of the year 2018.
The Company has been able to differentiate itself not only by providing the best gourmet burgers but also through its distinctive communication. It is notably a leading restaurant chain on social media with >230k highly engaged Instagram followers in Spain, more than most international casual dining chains.
About L Catterton
With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest and most global consumer-focused private equity firm in the world. L Catterton’s team of more than 160 investments and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.