Vivartia’s catering businesses on the mend
Vivartia Group’s catering sector, long considered its weak link because of its indebtedness, appears to be on the way to recovery.
The catering businesses, which include well-known chains Everest, Flocafe and Goody’s, saw sales increase significantly in 2021, as restrictions imposed during the Covid pandemic were lifted.
The group’s debt burden has been lightened with the new Vivartia owner, fund CVC, proceeding with a restructuring.
Total indebtedness at the end of 2021 was 121.85 million euros, of which €11.52 million is short maturity debt.
Sales of the Goody’s fast-food chain rose 21.2% in 2021, those of the Flocafe chain increased 32.3%, while La Pasteria, the group’s chain of pasta restaurants, did even better, with sales rising 45.4%.
In the current year, the catering group plans to develop the Goody’s Burger House brand in Cyprus and Saudi Arabia, open a Flocafe Espresso Room at the airport in Doha, Qatar, as well as an Everest outlet at a shopping center in Skopje, the capital of North Macedonia.
