As part of the deal the European affiliate of HIG will absorb 247 stores across Spain with approximately half set to be run as franchises.
Panaria founder and CEO Antonio Pérez will continue to own an equity stake in the company and will become CEO of the resulting entity.
Café & Té founder Gustavo Ron will continue supporting Pérez as a director of the combined company.
HIG Europe managing director Jaime Bergel said, “We are very pleased to back the combination of Café & Té and Panaria, two very successful concepts in the Iberian foodservice industry, which have proven resilient in face of a competitive environment.
“We fully support management’s vision of building a leading platform in Spain through internal and external growth opportunities.”
Coffee-shop and tapas bar operator Café & Té has a network of 147 points of sale and also operates under the names Café & Tapas, Il Caffè di Roma and Sky Madrid.
Panaria was founded in 2010 and since then has grown a network of more than 60 coffee shops.
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