Frankfurt: German-owned Vapiano is planning an initial public offering this year to raise €85 million ($95 million; Dh348.1 million) to help fund the expansion of its Italian-themed restaurants.
Vapiano currently has 185 restaurants in more than 30 countries and plans to increase this to 330 by the end of 2020. It also wants to develop its take-away food and home delivery businesses.
“Italian is the only global cuisine,” CEO Jochen Halfmann told Reuters in a recent interview.
Vapiano positions itself in the expanding “fast-casual” dining segment, between fast food chains such as McDonald’s and Burger King and more formal, full-service restaurants. The sector has grown most prominently in the United States through the likes of Panera Bread.
The market for new IPOs in Germany has been stagnant, despite a resurgence in new listings globally.
