Despite the coronavirus, the results for the first nine months of the year confirm the positive evolution.
Food Delivery Brands, formerly Telepizza Group, accelerates its growth with an injection of funds of 82 million euros, As reported by the company in a statement.
Specifically, these funds are made up of a credit of 40 million euros and a shareholder contribution commitment of 42 million euros, of which 20 million euros will be disbursed upon receipt of the new financing.
Banco Santander and ICO will finance the credit of 40 million euros within the program of the special Covid-19 lines of the ICO. The borrower will be Food Delivery Brands and the loan will have a five-year amortization and an annual interest rate of 3.75%.
In addition to the usual clauses in this type of operation, the loan will have a minimum liquidity clause. The funds will be used for corporate purposes.
The company has indicated that the credit of 10 million euros, granted at the start of the pandemic, will be integrated into the new loan and will form part of the 40 million euros. The conditions for the disposition of the loan include, among others, the confirmation of the ICO guarantee and the contribution of 20 million by the shareholders. These conditions are expected to be met by the end of January 2021.
Jacobo Caller, proposed as the new CEO of Food Delivery Brands, a position he will assume in the coming months, has assured that “with this contribution of funds, the group will have the financial strength in the medium term to execute its business plan and continue offering the best experience for the consumer.
“I appreciate the trust and support of Banco Santander, ICO and the shareholders of Food Delivery Brands”, he indicated.
For its part, Nat Zilkha, socio de KKR, majority shareholder of the company, has commented that the “commitments of funds received demonstrate the confidence and commitment of KKR and the rest of the shareholders in Food Delivery Brands and its management team in the company becoming the leading multi-brand digital operator in the world. world level”.
Despite the coronavirus and its impact on the restaurant sector, the results for the first nine months of the year confirm the positive evolution of Food Delivery Brands.
Currently, the restaurant chain has most of its stores operational and at a high level in terms of volume in EMEA and Latam. During the pandemic, Food Delivery Brands has reinforced and improved its ‘delivery’ capabilities, the digitization of its services, adapting to the new conditions in all its markets.