Spanish private equity firm Mercapital, which recently merged with N+1 Private Equity, has acquired a 70 per cent stake in restaurant business Rubaiyat Group.
Established in 1951 by Belarmino Fernández Iglesias, Rubaiyat comprises three restaurants in Sao Paulo and one in Madrid, with a focus on specialised select meats.
The group's "From ranch to your plate" concept enables it to offer high-quality meats, sourced from organically fed, free-range cattle, farmed in Rubaiyat-owned ranches.
Following the cash injection, Mercapital will support the group's international expansion and aid its succession plan within the Rubaiyat founding family. Under its growth strategy, Rubaiyat is to open ten restaurants over the next four years – first in Brasilia, where a restaurant is already under construction and then in Rio de Janeiro and Mexico.
Santander Corporate & Investment Banking and Uria Menéndez advised the Fernández family, while Mercapital was advised by Cuatrecasas.