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Brazil’s International Meal Company Raises $100 Million

2 June 2010

(Sao Paulo, Brazil) June 2, 2010 – International Meal Company Holdings, S.A. (IMC), the largest retail food concessionaire and multi-brand casual dining chain in Brazil with international operations in Mexico, Puerto Rico and the Dominican Republic, today announced that it has raised just over US$100 million through a private placement with institutional investors to fund its growth plan. IMC will invest the proceeds in organic growth and M&A opportunities in Brazil and other regions where it operates.

Existing IMC shareholders investing in the private placement include Advent International, a global private equity firm that retains a controlling interest in IMC, and other current stakeholders of the company. The two new investors are British Columbia Investment Management Corporation (bcIMC), an investment manager for public-sector clients in British Columbia; and a global investment management company based in Asia.

Based in São Paulo, IMC operates approximately 200 stores and restaurants in high-traffic, captive markets, including motorway plazas, airports and shopping malls. The company has a strong track record of growth driven by organic development and strategic acquisitions. In 2009, IMC generated sales of R$691 million (US$367 million) and has more than 7,000 employees.

“This capital increase is a significant development for IMC for two reasons,” said Javier Gavilán, CEO of IMC. “First it broadens our shareholder base to include two world-class institutional investors. Second, it enables us to fund our expansion plan, which focuses on attractive organic growth and M&A opportunities.”

Speaking on behalf of the investor group, Antonio Moya-Angeler, a Director at Advent International, said, “We are pleased to welcome these two highly-regarded institutions as new investors in this dynamic company. We see many exciting organic growth opportunities for IMC in the motorway-plaza, airport and shopping-mall segments. IMC also has an extensive pipeline of acquisition candidates that would be synergistic with the business.”

About International Meal Company
International Meal Company Holdings, S.A. (IMC) is the largest retail food concessionaire and multi-brand casual dining chain in Brazil, with international operations in Mexico, Puerto Rico and the Dominican Republic. IMC’s operations started in 2006 through the acquisition of La Mansión, one of the most well-known and appreciated restaurant chains in Mexico. Today, the group has approximately 200 stores and restaurants in motorway plazas, airports and shopping malls across Brazil, Mexico and the Caribbean. Through its more than 7,000 employees, IMC offers its clients high-quality services and products.

Brazil’s International Meal Company Raises $100 Million was last modified: December 13th, 2012 by Editor
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