Mexican restaurant group Grupo Carolo has secured an investment of more than $30m from Mexican private equity fund Kans Capital.
This financial boost is aimed at fuelling the company's expansion, particularly in the US, through its Eureka Restaurant Group brands: Eureka!, La Popular and Amalfi Llama.
With more than 60 restaurants across the US and Mexico, Grupo Carolo has annual sales of $200m and employs 4,000 people.
Its expansion plan of the company includes the opening of 40 new restaurants up to 2029, aiming for 100 eateries.
Grupo Carolo CEO Eduardo Gomez said: “We are very excited to partner with Kans Capital to embark on this exciting growth journey.
“This investment will allow us to bring the vibrant flavours and unique dining experiences of Eureka!, La Popular and Amalfi Llama to a broader audience. We are committed to doubling our footprint within the next five years. Grupo Carolo will benefit from Kans Capital's experience and operational capabilities, leveraging their industry knowledge and strategic resources to drive our growth and expansion.”
The investment from Kans Capital will also aid Grupo Carolo to augment its footprint in existing markets and venture into new territories.
The company's culinary offerings range from Eureka!'s American dishes to La Popular's Mexican cuisine and Amalfi Llama's Mediterranean-inspired fine dining.
The capital injection will enable Grupo Carolo to enhance its operational efficiency, broaden its restaurant network and offer dining experiences to a wider audience in the US.
Kans Capital managing partner Adriana Sandoval said: “We are delighted to partner with Grupo Carolo and support their expansion plans.
“Our investment reflects our confidence in their vision and the exceptional quality of their restaurant brands. We are confident that together we will achieve remarkable growth and success in the US market.”
Actinver Investment Bank and Caype Abogados advised Grupo Carolo for the transaction. Winston & Strawn, Muñoz Manzo y Ocampo, Deloitte and Chávez Vargas Abogados advised Kans Capital.
