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The Warsaw Voice » Business » June 17, 2009
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EI Invests in Restaurants
June 17, 2009 By A.R.    
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Enterprise Venture Fund I (EVF I), a venture capital fund managed by Enterprise Investors, will take a 47.9-percent stake in R&C Union SA, a company listed on the New Connect market. Under a contract signed in May, EVF I will invest zl.13.1 million in the company. R&C Union will use the money to expand its Sioux restaurant chain and the Lizard King and Fever chain of music club restaurants.

R&C Union was set up in 2007 in a merger between the Sioux and Lizard companies. Sioux is a Wild West-style restaurant chain. There are 15 such restaurants in large Polish cities, including Poznań, ŁódĽ, Cracow, Wrocław, and the Tricity of Gdańsk, Sopot and Gdynia.

Lizard King and Fever operate as a chain of music club restaurants that also organize music concerts. The chain now has eight clubs located, like Sioux, in cities with populations larger than 200,000.

Last year R&C Union reported a sales revenue of zl.14 million, up by 57 percent on 2007, and a net profit of zl.1.75 million.

Enterprise Investors, which manages private equity and venture capital funds, is the oldest and largest investor of this kind in Central and Eastern Europe. Enterprise Investors has set up seven funds with total assets exceeding 1.7 billion euros. So far it has invested 1.1 billion euros in more than 100 companies.
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