Press release: Friends & Brgrs turns customers into owners – launches crowdfunding campaign for European expansion
The rapidly growing restaurant chain Friends & Brgrs is aiming for growth in Europe. In the coming years the company plans to open 2–3 new restaurants annually, with the goal of increasing sales threefold within the three years. In order to finance the expansion Friends & Brgrs has issued new shares in the company, with the purpose of raising capital and widening the ownership base. The share issue gives private individuals as well as companies the opportunity to invest in Friends & Brgrs.
Through the equity offering, Friends & Brgrs seeks to raise 600,000 – 1,000,000 € in venture capital. The offering is carried out in cooperation with the Finnish crowdfunding platform Invesdor, and will last until December 20. Approximately 54% of the offering has already been subscribed.
Going against the industry tide
Crowdfunding is an unusual funding method in the restaurant industry. “Many restaurant chains choose to franchise, but we want to partner up with people who share our passion for burgers. That’s why we now our fans the opportunity to become owners”, says CEO Peter Fagerholm. “At the same time we also want to maintain control over the quality and the customer service.”
Friends & Brgrs predicts that the rapid growth of the better-burger segment will continue. “There’s a strong burger trend in Europe, and we’re convinced there’s a demand for our concept. Our way of making burgers and fries has attracted a lot of attention. We make the food from the best ingredients available, and for the most part completely without the use of additives. This way we get the best possible taste,” Peter Fagerholm explains.
Friends & Brgrs has grown rapidly from the start, and is expected to reach sales of 6 million euros in 2016. Friends & Brgrs currently operates five restaurants in Finland and Denmark, and is now looking for suitable locations in major cities around Europe.
For more information about the equity offering: www.invesdor.com/friendsandbrgrs
For more information:
Peter Fagerholm, CEO
+358 50 5533 665
Kaj Fagerholm, CFO & new locations
+358 44 4494 200