Boojum, a Belfast-based restaurant chain known for its Mexican-inspired cuisine, has been acquired by the Azzurri Group, the UK owner of the Zizzi and Ask Italian chains.
The specific financial details of the deal have not been made available to the public.
Boojum was established in 2007 with its first store opening on Botanic Avenue in Belfast. In 2015, it was acquired through a management buy-in by David and Andrew Maxwell, with backing from Renatus, an investment firm based in Dublin.
The recent acquisition by Azzurri Group signifies a new phase for Boojum, with opportunities for expansion across the Irish Sea and potential growth in the Mexican fast-casual segment.
The Azzurri Group, which operates around 200 outlets in the UK, believes that Boojum’s cuisine, target demographic, and unique offerings will complement their existing portfolio.
Boojum, the restaurant chain based in Belfast, has been purchased by the UK company that runs the Zizzi and Ask Italian chains.
In 2007, Boojum was established, marking its inception with the opening of its inaugural store located in Botanic Avenue, Belfast.
In 2015, Boojum was acquired through a management buy-in led by David and Andrew Maxwell, with support from Renatus, an investment firm based in Dublin.
The Azzuri Group, which operates approximately 200 outlets throughout the UK, is now the owner of Boojum.
According to David Maxwell, the Managing Director of Boojum, the recent deal serves as a testament to the significant transformation the business has experienced since joining forces with Renatus in 2015.
“We are excited to embark on the next phase of our journey with the Azzurri Group, as we aim to expand our presence across the Irish Sea,” stated David Maxwell, expressing his enthusiasm for the future prospects of Boojum.
The financial details of the deal have not been revealed to the public.
In a previous report by The Times, it was mentioned that Boojum had engaged PwC to explore funding options, indicating their intentions for expansion across the UK.
Azzurri Group’s CEO, Steve Holmes, expressed that Boojum is a great addition to their portfolio as it perfectly aligns with their objectives. He emphasized that Boojum brings a unique culinary experience, caters to a distinct occasion, and appeals to a younger demographic, thus adding a fresh dimension to their offerings.
“We are excited about collaborating with David and the team to capitalize on the significant potential in the Mexican fast-casual segment,” stated Steve Holmes, emphasizing the enthusiasm for exploring the vast opportunities ahead.
Source : bbc.com
