Tree Feed Investments (TFI)A restaurant group that specializes in managing fast food franchises, which had more than 100 restaurants in Spain before the pandemic, is saving a match ball to ensure its continuity. The group, owned by the Fernández Fermoselle family, signed an agreement through the ‘family office’ Naropa. Food Delivery Brands owns Telepizza, to transfer 66 businesses operating under the famous pizza brand In parallel, it reached an agreement with its creditors to sign a restructuring plan that provides for debt reduction.
Thus, the company has guaranteed the continuity of more than 1,000 employees who will now work in the multinational group. The package purchased from the restaurant group was partially transferred (46 stores) to another franchisee on the day of the purchase.Describe the sources consulted by ‘elEconomista.es’ while owning and operating the other 20 stores.
The process led to a new structure. Significantly reducing its footprint, Tree Foods will now operate only franchises of the Taco Bell (27) and Udon (10) brands. The number of employees who will continue under the roof of the restaurant company will be 550.
Tree Foods Inversiones, historically known as QSR Iberia, renegotiated a €27 million debt block in parallel and managed to reduce 50% of the liabilities, while reducing the other part with funds raised after the disposal of Telepizza. franchise environment.
The negotiation, in which NK5 participated as company counsel, received the approval of the majority of creditors (approximately 90%).. The same voices state that the pool of institutions most exposed to attacks consists of seven national banks, including CaixaBank and Banco Santander. The deal eliminates the risk of potential bankruptcy that has plagued the company in recent months.
extraordinary meeting
All measures were finalized after the extraordinary general assembly meeting held this week. All issues of the day were approved by a large majority at the conclave of cardinalsThese include the accordion operation (reduction followed by capital increase) to complete the strengthening of the restaurant group’s balance sheet.
The company now hopes to turn the group’s tide. The group’s latest accounts are for 2022, so they do not allow for a definitive analysis of the firm’s health. It closed that year with revenues of 47 million euros, compared to 33.57 million euros, a 27% increase on the previous year.partly due to the normalization of the activities of the facilities in 2021 due to Covid-19 and, on the other hand, due to the new facilities added to the group during the year.
EBITDA reached 3.3 million at the restaurant level. “The improvement in results comes as a result of the normalization of the health situation and new openings,” the company said in its management report.
Fernández Fermoselle, owners of the group
The Fernández Fermosell family, historically known to have owned parkesolIt is the majority shareholder of Tree Foods Inversiones. He has a controlling position through his family office, Naropa, about whom there is almost no information. According to the ‘Richest’ ranking of ‘El Mundo’ newspaper, The epic has accumulated an inheritance of 400 million. He is currently interested in the cryptocurrency world and joins the production company A Contracorriente.
