Mint Capital announced that it signed a USD 10 million investment agreement with casual dining restaurant chain Tinkoff Restaurants. The direct equity investment is set to improve the company’s regional expansion plans of building 37 new locations by 2011, bringing the total number of restaurants to 50. Further details of the transaction are unavailable.
Tinkoff Restaurant (www.tinkoff.ru)
Founded by Oleg Tinkov, the first Tinkoff Restaurant opened in St. Petersburg in 1998. The company expanded over the next few years, at times being associated with a frozen food manufacturer and a brewery, both owned by Tinkov. The restaurant chain now operates 13 locations throughout Western Russia.
Russian State Statistics Service expects the dining market to reach USD 24 billion by the end of 2008, of which Tinkoff Restaurants is expected to take a strong market share.
Mint Capital (www.mintcap.ru)
Mint Capital was founded as a private equity investment group in 2000. Its goal is to invest in companies in Russia and the surrounding regions.
Headquartered in Moscow, the company employs ten investment professionals. Mint Capital’s investments are now estimated to be USD 130 million in its two operating funds, Mint I and Mint II.
28/08/2008
Central & Eastern Europe, Investment, Private Equity News, Russia, Tourism, Restaurants & Leisure