Prior notification of a concentration (Case M.11873 – QUATTROR / BC PARTNERS / CIGIERRE) – Candidate case for simplified procedure
Date: 2025-02-27
Institutions: Directorate-General for Competition, European Commission
Subjects: France, Italy, Switzerland, catering industry, economic concentration, franchising, holding company, investment company, merger control








C_202501469EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/1469


27.2.2025






Prior notification of a concentration
(Case M.11873 – QUATTROR / BC PARTNERS / CIGIERRE)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2025/1469)


1.   
On 17 February 2025, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


QuattroR SGR S.p.A. (‘QuattroR’, Italy), controlled by its partners through QR Partners S.r.l. (Italy)










—


BC European Capital IX - 1 to 12 LPs (United Kingdom), an investment fund advised by BC Partners LLP (‘BC Partners’, United Kingdom)










—


Cigierre – Compagnia Generale Ristorazione S.p.A. (‘CGR’, Italy), currently indirectly solely controlled by BC Partners.




QuattroR and BC Partners will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of CGR.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


QuattroR manages the Italian private equity ‘Fondo QuattroR’ and ‘Fondo QuattroR MidCap’ whose mission is to invest in and relaunch Italian businesses. QuattroR currently controls seven portfolio companies in the areas of engineering, logistics, manufacturing and distribution,










—


BC European Capital IX -1 to 12 LP is an investment fund advised by BC Partners. BC Partners is an international investment manager focused on private equity, credit and real estate, with networks across Europe and North America,










—


CGR is the operating holding company of a group of companies essentially engaged in managing restaurants located in Italy, directly and through a franchising system. CGR’s operations outside Italy are limited to a small number of restaurants in France and Switzerland. CGR has developed different restaurant formats which are mainly known under the brands Old Wild West, Pizzikotto, Wiener Haus, Smashie, America Graffiti and Shi’s.






3.   

Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.



4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.11873 – QUATTROR / BC PARTNERS / CIGIERRE
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  
            OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  
            OJ C 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2025/1469/oj
ISSN 1977-091X (electronic edition)