Altor acquires a minority stake in O’Learys
On March 14th, Altor Fund IV (“Altor”) signed an agreement to acquire a minority stake in the restaurant and entertainment chain, O’Learys Holding AB (“O’Learys”).
O’Learys is the leading chain of sports-themed and entertainment focused restaurants in Europe with approximately 130 restaurants across the world and a combined turnover of 2,3 billion SEK.
“We wanted a strong partner to help us strengthen our existing business and further grow as a market leading entertainment chain in Europe and internationally. We have found the perfect partner in Altor to support us on this journey. Altor has extensive experience of expanding businesses internationally and the ability to contribute with a highly competent and relevant team,” says Christian Bellander, CEO of O’Learys.
“I am excited to see O’Learys take this next step together with Altor on the Company’s 30th anniversary,” says Jonas Reinholdsson, founder of O’Learys. “Altor has an excellent track record of entering into partnerships with founders and management, and we look forward to growing with them as a partner.”
“We are very impressed with O’Learys and see a lot of potential in the development of their current concept and in an international expansion of entertainment centres. We are excited to be able to bring highly relevant people to contribute to the team and support O’Learys going forward” says Andreas Källström Säfweräng, Director at Altor.
The transaction is subject to customary regulatory requirements and approvals.
For more information, please contact:
Christian Bellander, CEO of O’Learys Trademark, Tel: +46 708 560 375
Tor Krusell, Head of Communications at Altor, Tel: +46 70 543 87 47
About Altor
Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.8 billion in more than 40 companies. The investments have been made in medium sized Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Ålö, ByggMax, Carnegie Investment Bank, Dustin, Helly Hansen, Lindorff and SATS ELIXIA. For more information visit www.altor.com.
About O’Learys
O’Learys Bar & Restaurant – is a Swedish franchise chain that was in 1988 in Gothenburg, Sweden by Jonas Reinholdsson and is run by O’Learys Trademark. Today, there are more than 130 restaurants in Sweden, Norway, Denmark, Finland, Iceland, Belgium, Spain, Hungary, Turkey, United Arab Emirates, Singapore, China and Vietnam. The total revenue was 2017 more than 2,3 billion SEK. As a partner to the Sweden UN association, O’Learys runs the CSR program Meal4Meal, which, so far, has contributed with more than 2,1 million school meals in Etiopia and DR Congo. O’Learys core values are Fair, Passionate, Proud. More information can be found on www.olearyssportsbar.com.