O’Learys sells a minority stake to Altor Funds for $100M.
O’Learys, a Stockholm, Sweden-based franchise chain operating internationally more than 130 restaurants, announced in a press release getting into an agreement to sell a minority stake of the operations to the Swedish private investment firm Altor Funds.
The acquisition was agreed to 25% of the shares for SEK 800M ($97.5M), putting the value of the company to just over SEK 3bn. The plan is to increase the holding to 40-45% of the shares and votes in the company and ultimately take the company public on the stock exchange.
O’Learys was founded in 1998 in Gothenburg by Jonas Reinholdsson and is led by CEO Christian Bellander.
The company has built a chain of sports-themed and entertainment focused restaurants in Europe with approximately 130 restaurants across the world and a combined turnover of SEK 2.3bn ($280M).
These types of restaurants can be found in all major US cities, such as Boston, New York, Chicago and San Francisco. They often have green walls full of tribute to the local sports heroes, in O'Leary's case Boston's.