VAPIANO takes a majority holding in Australian joint venture
- International expansion further advanced by majority takeover of the existing joint venture
- Seventh location opened in Australian capital Canberra
Cologne, 8 May 2018 - VAPIANO SE has increased its holding in the existing joint venture in Australia from 50 per cent to 75 per cent and, with the opening of a restaurant in the capital, Canberra, has established its seventh location in Australia.
Back in 2009, VAPIANO opened its first franchise restaurant in Brisbane. In 2013, the partnership with the franchisee, Three Wise Men Pty Ltd, was expanded to become a joint venture, with each party holding 50 per cent. So far, a further six locations have been added, in Brisbane, Gold Coast, Melbourne, Sydney and most recently in Toowoomba (November 2017) and in Canberra (March 2018). In financial year 2017, the five restaurants in Australia that were in existence for the full financial year generated combined revenue of AUD 22 million, or around EUR 13.8 million. With this successful acquisition of the majority in the joint venture, the restaurants will be included and fully consolidated in the VAPIANO SE consolidated financial statements in the future.
Jochen Halfmann, CEO of VAPIANO SE: "The Australian market is showing very attractive performance for us. The acquisition of a majority holding in the joint venture ensures that we have a good strategic basis for our further successful growth in this region, and thus also for the further development of our international restaurant network."
The Italian lifestyle brand VAPIANO founded in 2002 an innovative "Fresh Casual Dining" concept that established a new category in system catering, combining elements of "fast casual" and "casual dining". The restaurant concept centers around quality, uncompromisingly fresh ingredients, and transparency. Pasta, pizza dough, sauces, dressings and dolci are all made fresh every day on site at each VAPIANO. Food is prepared "à la minute" directly in front of the guests and "customized" to the guests' special requests. The cosmopolitan ambiance is also part of the success story. The cozy atmosphere in each VAPIANO is enhanced by long oak tables that foster communication, a tall olive tree, and a comfortable bar and lounge area. VAPIANO stands for self-determination and individuality allowing each guest to choose between different guest journeys. Guests can order their food from the Vapianisti, at the terminal, or via the VAPIANO app, and pay for it by chipcard or app. Alternatively, the company offers take-away and delivery services at a growing number of its restaurants, allowing guests to enjoy VAPIANO anytime, anyplace, anywhere. From its origins in Hamburg/Germany, the VAPIANO idea spread quickly to the world: As of December 31, 2017, the VAPIANO portfolio encompasses 205 restaurants in 33 countries on five continents. VAPIANO shares (ISIN: DE000A0WMNK9) have been listed in the Prime Standard on the Frankfurt Stock Exchange's since June 27, 2017. For further details, please go to www.vapiano.com.
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