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Investor consortium acquires Cinven’s stake in RBE

A&O Shearman advises the consortium led by Gregorio Jiménez on the acquisition of Restaurant Brands Europe
Published Date
Nov 10, 2026
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Inigo del ValPartner, Madrid
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Ignacio Ruiz-CámaraPartner, Madrid
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Monika PrzygodaPartner, London
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Adam ZechariaPartner, London
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James GreenPartner, London
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Antonio MartínezPartner, Madrid
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Pablo MéndezCounsel, Madrid
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Enrique FerrerSenior Associate, Madrid
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Antony DeanSenior Associate, London
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Fraser JacksonSenior Associate, London
Dario Gonzalez-CamposAssociate, Madrid
A&O Shearman has advised an investor consortium led by Gregorio Jiménez, executive chairman and founder of Restaurant Brands Europe (RBE), on the acquisition of Cinven's stake in RBE.

The deal was announced on November 6, 2026, and values the business at more than EUR2.3 billion. It is one of the biggest MBOs in the Spanish market in the last years. RBE is the largest organized restaurant group in Southern Europe, with operations in Spain, Portugal, and Italy. Its network of more than 1,400 restaurants supports over 42,000 jobs across those three markets.

The deal is backed by Restaurant Brands International—Burger King (RBI), which continues to support RBE's strategy to grow the Burger King, Popeyes and Tim Hortons brands in Europe. Morgan Stanley and Santander have acted as financial advisors and JP Morgan and Santander as lenders.

The A&O Shearman team was led by Inigo del Val, Ignacio Ruiz-Camara, Monika Przygoda, Adam Zecharia, James Green and Antonio Martinez supported by Pablo Méndez, Antony Dean, Fraser Jackson, Dario González-Campos and Enrique Ferrer.

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