Growth
Food and Drink
Pietarsaari, Finland
Last updated January 11, 2018
Friends & Brgrs is seeking to expand internationally in the fresh casual segment. The company is well-known for its delicious burgers and triple-cooked Fresh Fries.
Growth
Stage
60
Employees
2013
Founded
Financial information
Rows marked with an asterisk are estimates.
Revenue EBITDA
2018* 12.656.349 EUR 765.875 EUR
2017* 8.884.573 EUR 672.216 EUR
2016 6.090.811 EUR 211.943 EUR
2015 2.409.453 EUR 414.505 EUR

Business & market

Fresh Casual During the last years a new segment has appeared in the restaurant industry: fast casual. The basic idea is to serve good, high-quality food (casual dining) at a lower price point by simplifying the way the food is served. The food is ordered at a counter, and picked up from the kitchen (fast food). Fast casual has grown rapidly: the global growth was 10.4% between 2014 and 2015 (Euromonitor International: qsrmagazine.com/news/fast-casual-fastest-growing-foodservice-segment-globally). Friends & Brgrs has developed the fast casual concept into a new subsegment, fresh casual. The company uses fresh ingredients, prepares all the food in the restaurants and avoids additives/preservatives whenever possible. The ingredients are sourced from suppliers that are known and thereby trustable. As a result the standard menu items are additive-free. Friends & Brgrs also differs from other fast casual competitors by serving the food on plates/in glasses. Thereby the company has been able to reduce the garbage by approximately 80%.

Business & market

Market position

Friends & Brgrs market position is in the fresh casual segment, which can be considered an upgraded version of fast casual. The fresh casual market segment offers an excellent price/quality ratio.

The fresh casual segment has a huge potential, it attracts people from both casual dining/fine dining and fast food. Especially when it comes to people with higher and more specific demands on the food quality, but still prefer the more affordable price point. A customer group that is noticeable at Friends & Brgrs is young adults, and especially young women.

The restaurants

Friends & Brgrs has restaurants in the following cities:

  • Pietarsaari, Finland (2014)
  • Helsinki, Finland (2015)
  • Tampere, Finland (February, 2016)
  • Oulu, Finland (April, 2016)
  • Copenhagen, Denmark (July, 2016)

Copenhagen is the first restaurant abroad, and thereby an important step for the company. The vision is to expand the international part of the business rapidly in the coming three years.

The interior design of the restaurants is simple and clear. The design supports the concept by its simplicity, and the company’s principle of transparency is clearly visible. The open kitchen and the communication inside the restaurant enhances the focus on quality, and gives the customer an authentic dining experience.

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Our team

Peter Fagerholm

CEO, co-founder and member of the Board

LinkedIn

Peter has over 25 years of experience in the food business. He has held leading positions in sales, marketing and strategy within the Snellman group. Peter has an in-depth knowledge of consumer behaviour, and extensive skills in strategic leadership, communication and branding.

Saul Mäenpää

COO, co-founder and member of the Board

LinkedIn

Saul is a true entrepreneur who has successfully established several companies. He brings many years of experience from the restaurant business, both as a manager and as an entrepreneur. Saul is a problem-solver, and can find solutions to almost any challenges a business may face.

Kaj Fagerholm

CFO & New Locations, co-founder and Chairman of the Board

LinkedIn

Kaj has 20 years of experience in international business, and as a CEO in the logistics & transportation industry. He has extensive experience in sales, finance, IT and management. Kaj’s analytical skills and the ability to take a process view of the business, is of great value to us.

Isak Fagerholm

Country Manager Finland

LinkedIn

Isak has been deeply involved in the development of Friends & Brgrs from the start. He is an enthusiastic leader with a talent for making change happen. Isak has a strong ability to analyze the current situation, form plans and implement them successfully together with the rest of the team.

Our story

We started Friends & Brgrs for people just like you. People who like great burgers. People like us. That’s why we bake our own buns, triple-cook our fries and grind the meat ourselves. We use the best ingredients we can find, and buy them from people we know and trust. No shortcuts and no compromises. There are easier ways to make burgers and fries, but not better. Sebastian, Rasmus, Kaj, Saul, Ole, Peter

Vision

Friends & Brgrs' vision is to become an international burger restaurant chain known for making the best fresh casual burgers and fries.

More and more people are interested in what they eat and where the food comes from, and natural food is in high demand. Friends & Brgrs offers high-quality burgers and fries, made from the best ingredients available and without additives. The ingredients are sourced as locally as possible. The relatively low price point makes the food affordable for most people.

The concept is supported by strong and growing trends in the restaurant industry:

  • The better burger trend
  • Transparency, people want to know what they eat
  • A more unpretentious way of serving
  • Clean food, fewer additives & preservatives
  • Local produce.

Expansion strategy

Friends & Brgrs plan is to expand by establishing new restaurants in larger cities throughout Europe. The strategy is to establish 2-3 new restaurants per year the coming years.

In contrast to most restaurant chains, Friends & Brgrs has decided not to franchise. The company believes that the best way to secure the quality is by controlling the operations themselves.

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Funding & Documents

Friends & Brgrs has raised 980.29k EUR in 1 funding rounds with a latest valuation of 8.82M EUR

Funding rounds
Date Amount
Dec, 2016 980.294 EUR
Documents
Forum

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