Integral investment in Walter BBQ

16 December 2021

Integral Venture Partners (Integral), an investment firm, announced today that it has entered into definitive legal agreement with the owners of Walter BBQ, the leading Serbian fast-casual restaurant chain, for an acquisition of a 50% stake in the business.

Integral manages institutional private equity and growth capital and is focused on investments in the countries of central and south-eastern Europe. Integral’s fund is backed by leading international institutional investors including the EIF, the EBRD and the IFC. Integral covers its pan-regional target market out of hubs in London, Budapest and Belgrade.

Walter BBQ, founded in 2003, is the largest independently owned fast-casual restaurant chain in Serbia with 20 restaurants operating in Belgrade and four other cities in Serbia. Walter’s concept is anchored on a branded local favorite consumer staple food (“ćevapčić“) served in a fast casual restaurant setting, with broad appeal across different demographics and geographic areas in south-east Europe.

Integral intends to support Walter, a true local champion, in its continued expansion within Serbia and then beyond its current footprint into other Balkan countries sharing similar consumer tastes and food culture. In parallel, Integral will work with the founding family and the top management team to continue to elevate Walter’s operations and processes in line with best industry standards applied by pan-European restaurant chain groups.

The transaction is not subject to any regulatory approvals and is expected to close within the first half of January 2022. The terms of the investment were not disclosed.