NoHo Partners Plc, Investor News, 8 October 2024 at 8:00 EET

H5 Ravintolat Oy becomes part of NoHo Partners

NoHo Partners has acquired through a stock transaction the majority of the business operations of H5 Ravintolat Oy, which includes 8 restaurants in Tampere. The sellers in the transaction are entrepreneurs Lassi Vänttinen and Marko Meronen, who will remain as significant shareholders of the company and continue to play a strong role in the operational activities.

The restaurants of H5 Ravintolat Oy are H5 Bar&Cellar, Pub Kujakolli, restaurant Härlem, restaurant Pons, The Red Lion Pub, restaurant Tuoppi and Beerhouse Opaali. In addition, the acquisition includes the sports bar Kultainen Ilves, which is responsible for the restaurant operations of the football stadium in Tammela. The total annual revenue of the restaurants amounts to over MEUR 8. In connection with the transaction, Patarouva, a restaurant owned by NoHo will become part of H5 Ravintolat.

“The entrepreneurs of H5 Ravintolat, Lassi and Marko, have created high-quality and functional restaurant concepts that customers have adopted over the years. We are looking forward to continue working with them. The restaurants acquired now have proven the profitability of their business operations and are an excellent addition to our restaurant portfolio in Finland”, says Jarno Suominen, CEO of NoHo Partners.

“Our restaurants have demonstrated their ability to generate results even in a challenging market environment. For this, a big thank you belongs to the entire staff and partners of H5 Ravintolat Oy. We are confident that this deal will guarantee an upward trend also in the future, when NoHo’s know-how and synergies are added to the already functioning entity. We are excited to start building a common future in the domestic restaurant scene”, tells Marko Meronen, the entrepreneur of H5 Ravintolat.

Additional information
Jarno Suominen, CEO, jarno.suominen@noho.fi (Executive assistant Niina Kilpeläinen, tel. +358 50 413 8158)
Jarno Vilponen, CFO, tel. +358 40 721 9376

NoHo Partners Plc

NoHo Partners Plc is a Finnish group established in 1996, and it specialises in restaurant services being the creative innovator of the Northern European restaurant market. The company was listed in Nasdaq Helsinki in 2013 becoming the first Finnish listed restaurant company, and it has continued to grow strongly throughout its history.

The Group companies include some 300 restaurants in Finland, Denmark, Norway and Switzerland. The well-known restaurant concepts include Elite, Savoy, Teatteri, Sea Horse, Stefan’s Steakhouse, Palace, Löyly, Friends & Brgrs, Campingen, Cock’s & Cows and Holy Cow!. Depending on the season, NoHo Partners employs approx. 2,800 people converted into full-time employees, and in 2023, company’s turnover amounted to approx. MEUR 370. NoHo Partners’ vision is to be the leading restaurant operator in Northern Europe. More information is available at noho.fi/en.