Kotipizza Group Oyj : Kotipizza Group Oyj launches a Mexican-style restaurant chain Kotipizza Group Oyj launches a Mexican-style restaurant chain
Helsinki, 4 May 2015, 9.00 am
Kotipizza Group Oyj ("Kotipizza Group") launches a new Mexican-style restaurant chain called Chalupa. The chain's first restaurant is intended to be opened in Kallio in Helsinki as soon as Kotipizza Group receives the required building permits. In addition, the chain will have a food truck circulating in summer events around Finland
The Chalupa concept will be managed by a company called Chalupa Oy, a joint venture to be owned by Kotipizza Group and Think Drinks Oy. Kotipizza Group will own 60 percent and Think Drink Oy 40 percent of the joint venture. Kotipizza Group and Think Drink Oy have signed a shareholders' agreement concerning the joint venture. The agreement contains customary provisions in similar agreements regarding, among other things, ownership and transfer restrictions concerning Chalupa Oy's shares as well as provisions regarding cooperation arrangements related to the administration, development and business of the joint venture company. The main owners of Think Drinks Oy are restaurateurs Iman and Amin Gharagozlu who have previously taken part in for example the creation and development of the Shanghai Cowboy restaurant in Helsinki.
"The biggest trend in the international restaurant business is fast casual, where, as in Kotipizza, the focus is on serving a reasonably priced, but more authentic and higher-quality eating experience as compared to traditional fast food. Chalupa is a fresh, Mexican-style take on this trend", Kotipizza Group CEO Tommi Tervanen says.
Kotipizza Group aims to open four Chalupa restaurants in Helsinki this year and later develop the concept into a franchising chain. Chalupa chain is not expected to have a material effect on Kotipizza Groups financial position in 2015.
More information:
Kotipizza Group Oyj, CEO Tommi Tervanen, tel. +358 207 716 743, tommi.tervanen@kotipizzagroup.com
Kotipizza
Kotipizza is a Finnish pizza chain, which was founded in 1987. It has 261 restaurants at the moment. In 2014, the sales of Kotipizza restaurants was 70.2 million euros. More than 99 percent of Finland's Kotipizza restaurants are run by independent franchisees. Franchisee is given a tested and profitable business idea and product, and brand, knowhow and other advantages of co-operating with the chain.
Kotipizza Group Oyj
Kotipizza Group Oyj consists of Helsinki Foodstock Oy and Kotipizza Oyj. The main owner of Kotipizza Group Oyj is funds managed by Sentica Partners Oy. Kotipizza Group launches new restaurant chain http://hugin.info/160462/R/1918348/686434.pdf
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