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Michelin-Starred Chef Dani García’s Group Acquired by Venture Capital Fund Amidst Closure of Two Luxurious Costa del Sol

April 18, 2024
Michelin-Starred Chef Dani García's Group Acquired by Venture Capital Fund Amidst Closure of Two Luxurious Costa del Sol - dg aleli U46202214180YWo - Food and drink -

Belgian Venture Capital Fund Kharis Invests in Grupo Dani García

Grupo Dani García has opened its doors to an investment fund after a period of speculation. Belgian venture capital fund Kharis has acquired a stake in the company for 44 million euros. This significant operation, a first in the national gastronomy scene, will pave the way for a new business model for the group. Dani García and siblings Laura and Javier Gutiérrez will remain the majority shareholders.

Grupo Dani García’s Expansion Plans

The Michelin-starred chef from Marbella, Dani García, stated that the new move will enable them to “accelerate and professionalise” their national and international expansion. They plan to open new premises with their own investment, a departure from their previous model of partnering with local operators, mainly hotels. The group currently operates 20 restaurants in six countries and employs over 1,200 people, generating an annual turnover of over 60 million euros.

Restaurant Closures and Future Plans

Despite the group’s success, there have been some closures, including the Alelí and Kemuri restaurants in Marbella. García expressed regret over the closures but emphasized the importance of profitability. He also hinted at the possibility of returning to haute cuisine in his hometown. The chef is set to open an Italian cuisine concept in Budapest, demonstrating his belief in the concept despite its previous failure.

Home Delivery Food Line Challenges

The group also faced challenges with La Gran Familia Mediterránea, a home-delivery food line created in response to the Covid-19 pandemic. Despite initial success, the delivery business stagnated and the company recently declared bankruptcy. However, García remains optimistic following Kharis’ investment and has plans to expand independently in cities like Las Vegas, New York, London, and Paris.

Future Expansion and International Consolidation

Grupo Dani García has ambitious plans for the future, with a dozen new restaurants set to open in the next year in locations including Barcelona, Mallorca, Valencia, Amsterdam, and Los Angeles. Their international consolidation was a key factor in attracting the investment from Kharis. The Belgian venture capital fund has stakes in several other companies and is making its first foray into Spain with its investment in the Dani García Group.

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