Deal overview

Date: November 2021
Sector: Food leisure
Type of transaction: M&A – Sell side advice
Deal Team: Stéphane Benouaich / Jean-Baptiste Méric

Background

  • Founded in 2015 by Norman Kolton, Street Bangkok is a leading player of the fast casual dining market in the Paris area with 9 restaurants (including 3 dark kitchens). The company offers a wide range of authentic Thai menus based on three original concepts
  • With a strong online presence and an established omnichannel strategy, Street Bangkok’s ambitions is to deliver an aggressive growth plan with a rollout throughout the country

Process

  • Mirabaud Advisors was appointed by Street Bangkok shareholders in May 2021 to structure a process following a pre-emptive approach by Montefiore
  • Exclusivity with Montefiore was signed at the end of June and by July, most of the due diligence work was completed and the terms of the future governance were agreed
  • The transaction was signed quickly thereafter (October 2021)

Outcome

  • Street Bangkok completed a successful minority investment by Montefiore. Existing shareholders (including French entrepreneur Philippe Varnier and private equity fund Rives Croissance alongside Norman Kolton) remain invested for the next phase of growth
  • Mirabaud’s contribution enabled a significant improvement of the initial offer as well as a swift process to closing
  • The deal also strengthens the reputation of Mirabaud as trusted advisor to entrepreneur-led companies for primary investments

Stéphane Benouaich, Mirabaud Advisors France CEO: “We are delighted to have advised Street Bangkok throughout this process. Montefiore Investment’s will provide the business with ammunition to deliver its growth plan and establish its presence nationwide. The deal also highlights Mirabaud’s ability to manage a process with a market leading private equity fund on behalf of entrepreneur led businesses.”

France

Stéphane Benouaich

Head of Mirabaud Advisors, France


MIRABAUD ADVISORS FRANCE SAS
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75008 Paris
T +33 1 44 21 61 00

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“We are very pleased to have worked with Mirabaud Advisors on this transaction. Their tactical knowledge, strategic input and hard work within tight schedules allowed us to execute this transaction in an efficient manner. We look forward to partnering with Montefiore Investment on the next phase of this exciting journey.”

Norman Kolton
Street Bangkok Founder