AmRest Is Close to Buy Spain’s Restauravia, Expansion Reports

Feb. 11 (Bloomberg) -- Poland’s AmRest Holdings SE is close to acquiring Restauravia, Spain’s fifth-biggest restaurant business with 130 restaurants, for 205 million euros ($278 million) in cash, Expansion reported, citing people in the industry it didn’t identify.

The amount paid by AmRest for Restauravia, which is controlled by the venture-capital firm Corpfin Capital, equals about 8.5 times earnings before interest, taxes depreciation and amortization, the newspaper said.

Restauravia and AmRest operate KFC restaurants in Spain and central and eastern Europe, respectively. AmRest’s plans include expanding Restauravia’s brands to other European countries, the newspaper added.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net