HSI acquires BRL 88 million in convertible debentures from the Madero casual dining chain, with 41 locations and revenues of BRL 150 million. Madero embarks on a long-term expansion plan.
Madero reaches 84 restaurants in Brazil and one location in Miami, Florida, in addition to a new plant built to meet the company’s growing needs. Revenues double.
HSI provides an additional BRL 50 million of capital to maintaining the pace of expansion.
The Madero reaches 137 locations, of which 125 are company-owned and 12 are franchises, in 13 states. Revenues reach BRL 750 million.