Morgan Stanley Capital scores 30-40 pct IRR on sale of airport restaurant chain

  • Bought company in 2015
  • Added on Vino Volo last year
  • MS Capital closed most recent fund last year on $1.5 bln

Morgan Stanley Capital Partners, the investment bank’s in-house middle-market buyout group, reaped a return of between 30 and 40 percent on its sale of airport restaurant company, Hojeij Branded Foods, a source told Buyouts.

Morgan Stanley this week said it sold Hojeij Branded Foods to Lagardère Travel Retail for $330 million. The group acquired a majority stake in the company from its founders in July 2015 in a deal that valued Hojeij at $155 million.

Morgan Stanley Capital Partners made the investment from its most recent fund, North Haven Capital Partners VI, which closed on $1.5 billion last year. 

Last year, Hojeij added on Vino Volo, an airport wine-bar chain. Hojeij’s Ebitda more than doubled during Morgan Stanley’s ownership period, the firm said in a statement.

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