German pizza chain Vapiano, which has a strong UK portfolio of restaurants, has announced intentions to nearly double its restaurant count to reach 330 by the end of 2020.
The chain wants to drive expansion in new and existing markets in line with the growth of the fast casual dining segment.
It forecasts this sector will expand at 10% compound ahead of any other segment in the restaurant industry.
Vapiano reports that it is ‘a successful European restaurant chain in the fast casual dining segment, offering trendy, modern Italian-inspired cuisine with the goal of delivering the freshest ingredients and flavours at attractive prices.
The Company was among the first to enter the FCD category in Europe when opening its first location in Hamburg, Germany, in 2002. Since then, Vapiano has grown to 185 restaurants in over 30 countries on five continents, achieving a compound annual growth rate of 27% over the past ten years. In 2016, Vapiano had over 40 million guests across all restaurants.’
“Over the past 15 years, Vapiano has been growing very successfully as a private company. Today, we are in a unique position to capitalise on the projected growth within the fast casual dining segment,” commented Vapiano CEO, Jochen Halfmann.
“We intend to further drive our growth and profitability in the coming years through focused international expansion as well as concept and product innovation. We believe that gaining access to the capital markets is the right decision to support our growth plans.”