NoHo Partners becomes market leader in Helsinki’s entertainment and nightclub market through strategic acquisition

NoHo Partners

Investor News 27 March 2023 09:00 EET

NoHo Partners becomes market leader in Helsinki’s entertainment and nightclub market through strategic acquisition

NoHo Partners Plc has signed an agreement with investor Raimo Sarajärvi whereby Helsinki Nightlife Classic, Apollo Live Club, nightclub Maxine and restaurant Kaivohuone will be transferred under the ownership of group subsidiary Stadin Night Oy. The seller of the transaction is the Night People Group, a Finnish restaurant group. Mira Ritasmäki continues as Operations Manager at Stadin Night Oy together with key personnel responsible for restaurant operations.

“The entertainment and nightlife market remains the most lucrative type of catering business, and its future looks good in many respects. There is a growing number of students and young people in cities, for whom it is special to come together at night to share experiences. role. At the same time, demand for corporate events focusing on experiences and diverse spaces is increasing. Helsinki is Finland’s largest entertainment market, and NoHo Partners’ market share there has historically been lower than that of other student cities. The classics we are now acquiring Having proven their vitality over the past decade, we believe we can grow the business with key individuals who have joined us through the transaction,” commented Aku Vikström, CEO of NoHo Partners.

The acquisition makes NoHo Partners the market leader in the Helsinki nightclub market. The company’s entertainment and nightclub portfolio in Helsinki already includes renowned restaurants such as Teatteri, Wallis’, Baarikärpänen, Henry’s Pub, Holiday and Babylon Club and Garden. With the new acquisition, NoHo Partners’ turnover in the Helsinki nightclub market has increased to approximately EUR 25 million.

fact

night falls

• Corporate and private events < 1000 pax, nightclubs on summer weekends
• Built in 1838, Kaivohuone is a charming wooden villa located in the middle of Kaivopuisto Park, which operates as a nightclub in summer and is a popular venue for private events of all kinds.

Additional Information:

Aku Vikström, Chief Executive Officer, Tel: +358 44 235 7817
Jarno Suominen, Deputy Chief Executive Officer, tel. +358 40 721 5655

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www.noho.fi/en

NoHo Partners Plc is a Finnish group established in 1996, specializing in food service. Listed on Nasdaq Helsinki in 2013, the company became Finland’s first listed catering company and has enjoyed strong growth throughout its history. The group of companies has around 250 restaurants in Finland, Denmark and Norway. The company’s well-known restaurant concepts include Elite, Savoy, Teatteri, Sea Horse, Stefan’s Steakhouse, Palace, Löyly, Hanko Aasia, Friends & Brgrs, Campingen and Cock’s & Cows. Depending on the season, approximately 2,300 employees employed by the Group are converted to full-time employment. The group’s goal is to achieve a turnover of 400 euros by the end of 2024. The company’s vision is to become the leading catering company in the Nordics.