Urban Purveyor Group acquires Fratelli Fresh
Italian restaurant and retail brand, Fratelli Fresh, has been snapped up by the growing Urban Purveyor Group (UPG), which will now boast annualised revenues of more than $200 million.
Fratelli Fresh comprises six restaurants (five Caf Sopras and one Caf Nice) as well as four eponymously named fresh produce retail outlets.
UPG's chief executive officer, Thomas Pash, said “Fratelli Fresh, including Caf Sopra and Caf Nice, hold a special place in the hearts of Sydneysiders and we are excited to add such an amazing and much-loved business and innovative team to our group.
“The inclusion of a casual, full service Italian restaurant group enables us to aggressively enter one of the largest global dining sectors with a business that we believe can easily and quickly expand alongside our other recognised and respected brands.”
The acquisition of Fratelli Fresh takes UPG’s portfolio from 20 to 26 venues and from seven to 10 brands. It’ll also allow for greater economies of scale for UPG’s three other fully-owned retail and wholesale food and beverage subsidiaries: Urban Brewing Co, Urban Beverage Imports and Urban Fine Foods.
Nina Gravelis, Fratelli Fresh chief operating officer and daughter of the brand’s founder, Barry McDonald, will join UPG’s senior leadership team as brand general manage. McDonald will remain close to the business as an advisor.
“My father and I are thrilled to see our great business and amazing employees become part of Urban Purveyor Group,” said Gravelis. “Becoming part of an exciting and expanding casual dining group like Urban Purveyor Group will allow Fratelli Fresh to quickly expand in Sydney and other major Australian markets and facilitate investment in current venues, which will take the customer dining experience to new levels.”
Owned by Quadrant Private Equity, UPG’s other foodservice brands include Ananas, The Cut, Sake, Bavarian Bier Caf and The Argyle. The company plans to double its size in the next 24 months, and has had a strong start to 2016. In February it acquired The Van Haandel Group’s Stokehouse City site, with plans to launch a two-storey, multi-venue precinct, The Alfred, in June.
In the same month UPG’s events arm, Urban Events Venues & Catering, announced the introduction of pop-up kitchens – refurbished shipping containers that can be fully customised and themed.
Later this year, UPG will open Stella Ristorante & Terrazzo and Sak Jr at Grosvenor Place in Sydney’s CBD, and French bistro Ananas will move to Darling Harbour, making way for a new Tex-Mex restaurant called El Camino Cantina.