Stefan Mandachi sold Spartan in a transaction worth over EUR 20 million

by   CIJ News iDesk V
2023-02-23   08:56

The businessman Ștefan Mandachi sold the companies that operated the franchises of the Spartan restaurant chain, together with other big brands in the portfolio, such as Regatto, the Bum Bum Box fitness room, the Hercule and Hollywood Villas restaurants, to a group of 7 individuals, in a transaction with a total value of over EUR 20 million.

The money will be paid in installments over a period of 10 years, starting next spring and until 2034. Following the acquisition, Remus Cosovanu, the brand's first franchise investor, who already had a 30 percent stake in the number of restaurants, will own most of the shares of the company.

"I sold the HoReCa and Real Estate companies that operated the Spartan, Hercule and Hollywood Villas franchises. We didn't sell the restaurant chain, but the entire company, which includes the BumBumBox, Biotransylvania and Regatto franchises," said Ștefan Mandachi.