Restamax Plc: Restamax Plc grows by acquiring Rengasravintolat group

| Source: Restamax Oyj
Restamax Plc


Restamax Plc grows by acquiring Rengasravintolat group

Restaurant company Restamax Plc has purchased the entire share capital of
Rengasravintolat Oy. The business transaction covers Rengasravintolat Oy and 16
restaurants that are owned by its full subsidiaries in Helsinki, Tampere,
Jyväskylä, and Pori. The 2013 pro forma turnover of the businesses purchased was
MEUR 21.9, EBITDA MEUR 4.5 and operating profit MEUR 4.1.

"This business transaction strongly supports Restamax Plc's growth strategy.
With this acquisition, the company adds to its restaurant portfolio and
strengthens its position in new markets and also as the largest Finnish
restaurant company not operating as a cooperative," sums Markku Virtanen, CEO of
Restamax Plc.

The sales price for the business transaction was MEUR 7.8 in cash and 2,130,000
new Restamax Plc shares issued by the buyer to the seller (value of the shares
on February 28, 2014 was approximately MEUR 9.5). The transaction is effective,
and the shares issued for the seller have been fully subscribed. The shares will
be registered at the trade register as soon as possible, and after the
registration they will entitle their owner to dividends paid for the closed
financial period. The company will apply for the listing of the shares as soon
as possible. An additional purchase price up to approximately MEUR 1.2 is also
to be paid. The final additional purchase price will be determined by the
Rengasravintolat Oy's net assets as per the company's audited FAS consolidated
financial statement signed on February 28, 2014.

The owners of Rengasravintolat Oy, Mika Niemi and Hanna Niemi, will continue to
have significant roles in the management of acquired businesses.

"With a combined ownership interest of 13%, Mika Niemi and Hanna Niemi will
become major shareholders of Restamax Plc. This will allow Restamax Plc to
utilize the Niemis' invaluable experience in steering a successful restaurant
business. This is exactly the kind of transaction we were looking to gain the
capital for through our initial public offering and a perfect fit to our growth
strategy. The goal set out for us by our board of directors was to reach a
turnover of MEUR 100 by the end of 2015, and this transactions allows us to get
close to the goal already in 2014," says Timo Laine, Chairman of the Board of
Directors for Restamax Plc.

Rengasravintolat Oy is a family-owned restaurant company launched in 1969 with
several long-standing restaurants. In Helsinki, the company owns Henry's Pub and
Pub Ikkuna, in Tampere the Classic American Diner restaurants, The Grill,
Henry's Pub, Bar Passion, Ale Pupi, Salud, Paapan Kapakka, Wanha Posti and the
restaurant boat Suvi, in Jyväskylä Classic American Diner, Bar Passion and Ale
Pupi and in Pori Bar Passion.

"We followed Restamax's listing on the Helsinki Stock Exchange with great
interest and noticed certain similarities in our operating cultures. Through
this business transaction, the traditional Rengasravintolat Oy will get to play
a part in Restamax's growth story," says Mika Niemi, Chairman of the Board and
CEO of Rengasravintolat Oy.

The 2013 pro forma turnover of the new Restamax group formed by the business
transaction was MEUR 87.0, EBITDA MEUR 13.3 and operating profit MEUR 7.3.
(Appendices: 2013 pro forma income statement and balance sheet)

As a result of the acquisition, Restamax Plc now updates its profit guidance for

The previous profit guidance for 2014 (February 21, 2014):
The company estimates that the 2014 turnover will increase to MEUR 68-78. The
company estimates that the 2014 EBITDA will increase to MEUR 10.5-12 as a result
of operational expansion and streamlining. The company estimates that the 2014
operating profit will be MEUR 5.1-6.5. The company estimates that the earnings
per share will increase over the previous year.

The new profit guidance for 2014:
The company estimates that the 2014 turnover will increase to MEUR 86-97. The
company estimates that the 2014 EBITDA will increase to MEUR 14.5-16.3 and the
operating profit to MEUR 8.7-10.4.

Additional information:

Markku Virtanen, CEO, Restamax Plc, tel. +358 400 836 477
Timo Laine, Chairman of the Board of Directors, Restamax Plc, tel.
+358 400 626 064
Mika Niemi, Chairman of the Board and CEO, Rengasravintolat Oy, tel.
+358 400 630 504

Major media

Restamax Plc is a Finnish restaurant business group established in 1996. The
company has continued to grow steadily throughout its history. The group
companies include over 60 restaurants, cafés, pubs and nightclubs all over
Finland. Well-known restaurant concepts of the Group include Ristorante Bella
Roma, Gringos Locos, Viihdemaailma Ilona, Daddy's Diner and Stefan's Steakhouse.
Wayne's Coffee is also a part of the company's portfolio. Restamax Plc employs
approximately 700 people, the group's turnover in 2013 was approximately MEUR
65 and its EBITDA approximately MEUR 9.