ACTIVE Venture Partners is pleased to announce that it has sold its portfolio company Restaurantes.com (previously trading as Restalo.com) to Michelin Group (EPA: ML).
Restaurantes.com’s restaurant reservation and management tools will bolster the leading position Michelin has in the European market through its existing brands, including Michelin and Bookatable. Restaurantes.com has more than 5,000 establishments using its service for over 1 million diners who bring more than €21 million in business annually to its restaurant customers.
With this acquisition Michelin, the tyre company, consolidates its position as the European leader in online restaurant booking, expanding its offer into Spain, a high potential market. Spanish customers will benefit from Michelin’s expertise through a comprehensive and high quality range of services.
Antonio Fernandez, founder and CEO of Restaurantes.com, said about the acquisition:
“We are very proud of being part of Michelin. It will provide innovative reservation management and marketing tools for the restaurants and access to the largest selection of restaurants in Europe to our consumers, enabling us to continue sustainable growth and creating the tools for the future.”
Blair MacLaren, partner at ACTIVE, said “We are pleased that another of our portfolio companies has been sold to a top tier multinational company. We wish Antonio and the rest of the team all the best in their future roles with Michelin.”
ACTIVE invested in the company in 2011 via its second fund, Amerigo Innvierte Spain Ventures, and has supported the company through its different development phases. The transaction is ACTIVE’s second exit of 2016, and the fourth for the fund.