NoHo Partners becomes market leader in the Helsinki entertainment and nightclub market through a strategic acquisition

NoHo Partners Plc

INVESTOR NEWS 27 MARCH 2023 AT 09:00 EET

NoHo Partners becomes market leader in the Helsinki entertainment and nightclub market through a strategic acquisition

NoHo Partners Plc has signed an agreement through which the Helsinki nightlife classics, Apollo Live Club, nightclub Maxine and Kaivohuone restaurant, transfer under the ownership of the Group’s subsidiary Stadin Night Oy, in cooperation with the investor Raimo Sarajärvi. The seller in the transaction is Night People Group, a Finnish restaurant Group. Mira Ritasmäki continues as operational manager of Stadin Night Oy together with key persons responsible for the restaurant operations.

"The entertainment and nightlife market continues to be the most profitable type of restaurant business and its future looks good in many ways. The number of students and young adults in the cities is growing and for them getting together in the evening, sharing experiences has a special role. At the same time, the demand for corporate events focused on experiences and diverse spaces is increasing. Helsinki is the largest entertainment market in Finland and NoHo Partners’ market share there has traditionally been smaller than in other student cities. The classics we have now acquired have proven their vitality during the past decade and we believe we can develop the businesses together with key persons joining us through the transaction”, comments NoHo Partners’ CEO Aku Vikström.

This acquisition turns NoHo Partners into a market leader in the Helsinki night club 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 acquisitions, NoHo Partners’ turnover in the Helsinki nightclub market increases to approximately EUR 25 million.

Facts

Stadin Night Oy

• Subsidiary of NoHo Partners Plc
• Ownership after the transaction: NoHo Partners 60%, Raimo Sarajärvi 35%, M.R. Capital 5%

Apollo Live Club

• Entertainment centre for over 24-year-olds, capacity for < 1000 guests
• Apollo Live Club is an event restaurant located in an old movie theatre in central Helsinki, that together with the Apollo Street Bar in the inner patio becomes a large night-time music club. Apollo offers interesting events, gigs and performances as well as club atmosphere. Apollo also includes a karaoke bar and a terrace bar in the inner court.

Maxine

• Night club over 20-year-olds, corporate and private events for < 730 guests
• Maxine is located in the sixth floor of the central Kamppi shopping centre, where different atmospheric sections offer rooftop views for cosy socializing, dancing and karaoke.

Kaivohuone

• Corporate and private events for < 1000 guests, night club on summer weekends
• Kaivohuone, built in 1838, is a charismatic wooden villa in the middle of the Kaivopuisto park that operates as a night club in the summers as well as a popular setting for different private events.

Additional information:

Aku Vikström, CEO, tel. +358 44 235 7817
Jarno Suominen, Deputy CEO, tel. +358 40 721 5655

Distribution:

Major media
www.noho.fi/en

NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on Nasdaq Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Sea Horse, Stefan’s Steakhouse, Palace, Löyly, Hanko Aasia, Friends & Brgrs, Campingen and Cock’s & Cows. Depending on the season, the Group employs approximately 2,300 people converted into full-time employees. The Group aims to achieve turnover of MEUR 400 by the end of 2024. The company’s vision is to be the leading restaurant company in Northern Europe.