Turunc has advised Taxim Capital on its acquisition of a 40% stake in the Turkish casual dining chain Big Chefs from current shareholders Gamze Cizreli and Saruhan Tan, each of whom had their 50% shares in the company diluted. The Pelister Atayilmaz Enkur Law Office (PAE) advised the sellers on the deal.
The acquisition is the first for Taxim Capital after the recent closing of a new, EUR 105 million fund, which is expected to be increased to EUR 200 million within the next year.
Turunc describes Big Chefs as "a well-known and respected brand in the casual dining sector in Turkey, with international operations in Dubai and Saudi Arabia." The company has 36 branches, over 2,000 employees, and expects 2016 revenue of over 200 million Turkish liras (over EUR 60 million). It was founded in 2007 by Gamze Cizreli, with private investor Saruhan Tan coming on board at a later point. Turunc reports that Gamze Cizreli has said that Big Chefs will use the funds to expand internationally, and that the company plans to open 85 new branches by 2020 (with 24 of them outside Turkey).
The Turunc team was led by Partner Kerem Turunc and included Esin Camlibel, Grace Maral Burnett, Didem Bengisu, Gozde Kıran, Naz Esen, and Beste Yildizili.
Editor’s Note: After this article was published PAE informed CEE Legal Matters that its transaction team on the deal consisted of Kerim Pelister, Gokhan Enkur, Ela Sencoban, and Pelin Aydogdu.
Image Source: bigchefs.com.tr