City Grill to buy Cream Caffe network

Cream Caffe includes two units in Bucharest.

The two businessmen declined to provide the transaction value.

The first coffee bar of the chain, Cream Caffe Expresso Bar, was launched in 2003, following a €200,000 investment. The second unit opened in 2006, following an investment worth €300,000, and both are located in central Bucharest. They will be turned into a City Grill restaurant and a City Cafe coffee shop.

“With the takeover of the two Cream Caffe units, the City Grill chain will cover the entire center of Bucharest, along the Piata Universitatii, Piata Romana, Piata Victoriei and Piata Charles de Gaulle axis. We aim to be present in Bucharest’s important areas and be seen as a premium brand, Petrescu added.

The City Grill chain was founded in 2004 and currently includes eight restaurants and two coffee shops in Bucharest. The group estimates €15 million in turnover this year, 25 percent higher than in 2007.

The chain’s main competitors are La Mama, Trattoria Il Calcio and Ruby Tuesday.