maconda supports the German Gustoso Group in entering the Dutch restaurant chain ‘t Zusje
maconda-News July 2024
maconda, the Cologne-based experts in market analysis and commercial due diligence, analysed the Dutch restaurant market on behalf of the fast-growing German restaurant platform Gustoso ahead of its acquisition of the system catering chain 't Zusje. With 36 locations, 't Zusje is the fourth-largest restaurant chain in the Netherlands and operates primarily as a successful franchise system.
With more than 170 restaurants, the Munich-based Gustoso Group is one of the fastest-growing system caterers in the German-speaking region. The acquisition of ‘t Zusje – meaning “little sister” – not only increases system-wide sales to over € 200 million but also makes Gustoso the fourth-largest restaurant operator in the attractive Dutch market. ‘t Zusje stands for an innovative, modern dining experience where guests enjoy freshly prepared small plates over several ordering rounds, spending the evening together in a cosy yet upscale atmosphere.
To better assess the Dutch market and identify any specific characteristics, Gustoso mandated the Cologne-based consulting firm maconda. The experts, specialised in market analysis and commercial due diligence, have extensive experience with chain-based businesses of all kinds, franchise systems, the horeca sector, and the food industry in general. A key factor was also maconda’s strong track record in the Netherlands, supported by native speakers and local consultants.
For the market analysis, a wide range of local sources were evaluated, all in Dutch of course, and were compared, among others, with data from the German market. The local findings were supplemented and validated through interviews with Dutch experts and visits to ‘t Zusje restaurants as well as other chains. This approach revealed a clear picture of the market structure, trends and drivers, guest behaviour, competitors, and expansion potential.
About ‘t Zusje
‘t Zusje was founded in 1998 by Peter Smits in Uden, located in North Brabant in the southeast of the Netherlands. He developed a successful franchise concept, which he gradually expanded across the entire country and currently operates 36 locations. Special emphasis is placed on housing the restaurants in beautiful buildings. The concept of dining and spending time together in a cosy yet stylish atmosphere is very popular among the Dutch, where it is known as “Burgundian dining.” Many locations are fully booked, especially on weekends. In 2023, more than 1.5 million guests visited the chain. In 2024, over 1.7 million are expected. System-wide turnover stands at just under € 70 million.
About Gustoso
The Gustoso Group is one of the fastest-growing restaurant groups, now operating more than 170 restaurants across Germany, Austria, Switzerland and, through its majority stake in ‘t Zusje, also in the Netherlands. As a result, Gustoso generates system-wide sales of around € 200 million. Founded in Germany, the group has expanded its portfolio to a total of eight growing foodservice brands. In addition to ‘t Zusje, these include Cotidiano, Ciao Bella, Otto’s Burger, 60 seconds to napoli, Ruff’s Burger, Burgermeister, and Cucina in Switzerland. Gustoso’s mission is to support the founders of promising restaurant concepts on their path to market leadership.
maconda – a wealth of expertise in system catering and food
The maconda team has extensive expertise in system catering, the food industry and retail, having successfully completed numerous projects in these fields. It is undoubtedly one of the most experienced consultants in both the German and Dutch-speaking regions. This includes a wide range of commercial due diligences, mandates for strategic realignment and business model optimisation, as well as projects aimed at improving operational performance.
Extensive industry experience: system catering | franchise systems | chain stores of all kinds | bakery and butcher chains | frozen food | convenience food | baked goods | confectionery | meat | beverages | organic | vegan | sports nutrition | nutritional supplements | ethnic food | pet food | food retail | wholesale | consumer goods of all kinds and much more
About maconda
For more than 20 years, maconda has been providing support for company takeovers, performance optimisation and restructuring. With over 800 consulting and implementation projects and more than 450 transaction-related mandates, maconda has extensive experience in providing pragmatic support for even the most challenging projects. Clients include medium-sized companies, divisions of large companies as well as international private equity investors and family offices.
maconda sector expertise: consumer goods | food | retail & ecommerce | packaging | manufacturing industry | future technologies & software | B2B services (incl. business process outsourcing) | B2C services | healthcare & medtech
maconda core topics: Transaction consulting | Business model development | Performance management