Madero Revenue, Valuation, Funding & Investors

Madero is valued at $815M as of January 2019, a 3.7x revenue multiple. Madero revenue was $221M, as disclosed with its latest round.

Last Madero valuation

$815M

Undisclosed stage · Jan 2019

Last Madero funding round

$53M

Undisclosed stage · Nov 2021

Madero revenue

$221M

Undisclosed stage · Jan 2019

Key investors in Madero

Madero Overview

About Madero

Madero is a Brazilian restaurant group founded in 2005 by chef Junior Durski. At the time of Carlyle's investment it operated 140 restaurants under three brands, Madero Steakhouse in casual dining and the fast-casual Madero Container and Jeronimo. The group follows a vertically integrated model built around a central kitchen in Ponta Grossa, in the state of Parana, and employs about 6,000 people. Durski remains founder and chief executive. The company sells burgers, steaks and other meals directly to diners through its own restaurants, and it used new capital to open further locations and reduce debt. The chain is run from Brazil by a management team led by its founder, and its restaurants are located in the south and southeast of the country.


Founded

2005

HQ

BrazilPonta Grossa

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Revenue

$221M (Jan 2019)

Valuation

$815M (Jan 2019)

Madero Valuation

Madero is currently valued at $815M, based on its undisclosed-stage round in January 2019. Read the announcement ↗

The $163M round included Carlyle Group.

Madero valuation by funding round

Madero valuation by funding round
DateStageValuationRevenue Multiple
Jan 2019Undisclosed stage$815M3.7x

Madero Revenue

Madero's latest recorded revenue is $221M, as of its undisclosed-stage round in January 2019. At a $815M valuation, that implies a 3.7x revenue multiple.

Madero revenue by funding round

Madero revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2019$221M$815M3.7xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Madero Funding History

Madero has raised a total of $216M across 2 funding rounds.

Madero's first fundraising round was a $163M undisclosed-stage round in January 2019. The most recent completed round was a $53M undisclosed-stage round in November 2021.

Madero funding rounds

Madero funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Undisclosed stageCarlyle Group$53M-In November 2021 The Carlyle Group increased its existing stake in Madero, the Brazilian restaurant chain it first backed in 2019, in a deal worth BRL 300 million, or about 54 million dollars. Debevoise and Plimpton in New York advised Carlyle on the transaction. Carlyle had originally taken a 23 percent minority position in January 2019 through Carlyle Partners VII, in partnership with founder and chief executive Junior Durski. The follow-on investment deepened its ownership of a group that was founded in 2005 and, at the time of the first investment, operated 140 restaurants under the Madero Steakhouse, Madero Container and Jeronimo brands. Madero runs a vertically integrated model around a central kitchen in Ponta Grossa and employs thousands of people across its restaurants. The new capital supported the chain's continued expansion in Brazil.
Jan 2019Undisclosed stageCarlyle Group$163M$815MThe Carlyle Group announced on 25 January 2019 a significant minority investment in Madero, the Brazilian restaurant chain, in partnership with founder and chief executive Junior Durski. Press reports put the stake at 23 percent for BRL 700 million, comprising BRL 100 million to acquire existing shares and BRL 600 million in new capital. Carlyle invested through Carlyle Partners VII, its 18.5 billion dollar US buyout fund, and the transaction was subject to regulatory approval. The investment was meant to support new restaurant openings and continued investment in operations. Durski said Carlyle's experience investing in restaurants around the world combined with a deep understanding of the Brazilian retail market would be a valuable resource. Madero was founded in 2005 and runs 140 restaurants under the Madero Steakhouse, Madero Container and Jeronimo brands, supplied from a central kitchen in Ponta Grossa, and employs about 6,000 people.

Who has invested in Madero?

1 investor has backed Madero across its funding rounds, including Carlyle Group.


Madero Investors

Investors in Madero by funding rounds participated
InvestorHQRoundsRoleFirst check

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Madero Competitors

Madero competitors include listed companies like Young's Pubs, First Watch, Kura Sushi and Cannae Holdings, and private ones like Country Delight and Red Lobster.

Public and private companies comparable to Madero
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Young's PubsUnited KingdomUnited KingdomPublicly listed$681M$138M$814M1.7x
Country DelightIndiaGurgaonPrivate$148M-$820M5.5x
First WatchUnited StatesUnited StatesPublicly listed$1.2B$104M$799M1.4x
Kura SushiJapanJapanPublicly listed$1.6B$93M$872M0.7x
Cannae HoldingsUnited StatesUnited StatesPublicly listed$424M($162M)$761M2.1x
Red LobsterUnited StatesUnited StatesPrivate--$920M-

Madero Public Comps

Madero is still privately-owned, but its public comps include Young's Pubs, First Watch, Cannae Holdings, Kura Sushi, Collins Foods, TAB Gıda, Bloomin Brands, Ohsho Food Service, Sapphire Foods India and Restaurant Brands Asia.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Young's Pubs$681M$138M1.8x1.7x8.9x7.6x
First Watch$1.2B$104M1.5x1.4x17.7x14.0x
Cannae Holdings$424M($162M)2.0x2.1x(5.1x)(15.8x)
Kura Sushi$1.6B$93M0.7x0.7x12.2x12.0x
Collins Foods$1.1B$158M1.1x1.1x8.1x7.3x
TAB Gıda$954M$155M1.1x0.9x6.8x4.1x
Bloomin Brands$4B$215M0.7x0.7x12.8x9.0x
Ohsho Food Service$741M$88M1.1x1.1x9.7x-

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Common questions about Madero

When was Madero founded?Madero was founded in 2005.
Where is Madero headquartered?Madero is headquartered in Ponta Grossa, Brazil.
Is Madero publicly listed?No, Madero is a private, VC-backed company.
What is Madero's valuation?Madero was last valued at $815M in its undisclosed-stage round in January 2019.
How much funding has Madero raised?Madero has raised $216M across 2 funding rounds.
What was Madero's last funding round?Madero's last funding round was a $53M undisclosed-stage round in November 2021.
Who are Madero's investors?Madero's investors include Carlyle Group.
What is Madero's revenue?Madero's latest recorded revenue is $221M (January 2019).
What is Madero's revenue multiple?Madero's latest valuation implies a 3.7x revenue multiple ($815M valuation on $221M of revenue).
Which companies are comparable to Madero?Companies comparable to Madero include Young's Pubs, Country Delight, First Watch, Kura Sushi, Cannae Holdings and Red Lobster.

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