Mexican restaurant groups: Fine dining
Evolving consumer preferences, rising disposable incomes, tourism, and the burgeoning commercial landscape in major cities, all contribute to the growth of this industry.
In a notable development in Mexico's restaurant industry, Glisco Partners, a prominent private equity fund, recently divested its stake in Grupo Hunan, a restaurant group headquartered in Mexico City.
Investment and ownership
Glisco sold its stake in Grupo Hunan in September 2023.
Glisco Partners is a private equity fund that invested in Grupo Hunan in 2016.
Pedro Aspe, a founding partner of Glisco Partners, expressed the desire for their investment in Grupo Hunan to serve as a catalyst for growth.
Don’t forget to subscribe to our weekly newsletter, it’s free!
Restaurant group details
Grupo Hunan, based in CDMX, is a restaurant group.
In 2016, the year they received an investment from Glisco, Grupo Hunan had 14 restaurants.
Grupo Hunan was founded in 1993.
Grupo Hunan operates fine dining restaurants.
Grupo Hunan faced challenges during the COVID-19 pandemic but resumed expansion.
Grupo Hunan plans to open more restaurants in the USA and Mexico, with substantial investments.
In 2022, Grupo Hunan served approximately 1.4 million diners in Mexico.
Fine dining restaurants in Mexico are substantial businesses.
Danny Meyer is a prominent restaurateur in the USA who operates fine dining restaurants.
Comparative data
In the USA, fine dining restaurant groups typically have 30-80 restaurants.
Notably large fine dining restaurant groups in the USA include Lettuce Entertain You Enterprises and Thompson Hospitality.
Tavern on the Green in New York and SW Steakhouse in Las Vegas have substantial annual sales.
Fine dining restaurant groups in Mexico are growing in size and influence.
Institutionalization and growth strategies
Institutionalization is a key consideration in managing restaurant groups.
Grupo Hunan's institutional aspects were identified as an area of opportunity for improvement.
KuE Capital, from the Kuri family, coordinates family investors in Grupo Hunan.
Exit strategy and ownership changes
Grupo Hunan's exit strategy for Glisco's investment involved repurchasing the stake sold in 2016.
More families were invited to join as investors in Grupo Hunan to ensure continued institutionalization.
Future trends and expansion
Mexican fine dining restaurant groups are looking to expand internationally and work with institutional investors.
Grupo Hunan and other Mexican fine dining groups seek to grow beyond their current market limitations, including expansion into the USA and Europe.
Market and industry context
The fine dining restaurant industry in Mexico has seen growth due to factors such as consumer sophistication, increased purchasing power, and the development of commercial centers in major cities.
Fine dining restaurant groups are becoming a significant presence in Mexico, paralleling trends in the USA.
