Page 40 - Restamax Plc Annual Report 2017

40

EVENTS AND PROJECTS IN 2018

Organisational change The acquisition of a majority shareholding
On 22 January 2018, Restamax announced plans in Adicio Oy
to revamp its organisation and the structure of its In March, Smile Henkilöstöpalvelut bought a major-
Executive Team. Restamax’s operational organisa- ity stake (80%) of construction-sector hired labour
tion was divided into three business units: Nightclubs, company Adicio Oy specialising in foreign manpower.
Food restaurants, and Pubs & Entertainment, each A nationwide operator, Adicio has commercialised the
with their own responsible director. The position of import of foreign labour into Finland, all the way from
Chief Procurement Officer (CPO) was established to the work permit application procedure to accommoda-
strengthen purchasing operations and the efficiency tion and support services to facilitate living in Finland.
thereof. The roles of sales and marketing strat- The purchase price was MEUR 6, and ownership was
egy were increased in the organisation and, for that transferred on 3 April 2018. Based on preliminary
purpose, the position of Chief Commercial Officer information, Adicio’s turnover at the end of 2017 was
(CCO) will be established. MEUR 8.772 and operating profit MEUR 1.692.

The acquisition of Kymppi Service Oy, Smile Expanding restaurant operations abroad
Henkilöstöpalvelut In March 2018, Restamax announced an expansion of
In February 2018, Smile Henkilöstöpalvelut acquired its restaurant operations to Denmark. In Denmark,
the entire shareholding of Kymppi Service Oy, which Restamax will operate through its subsidiary Restamax
operates in Southwest Finland, Satakunta and Kainuu. Operations Denmark. The company purchased over 90
As a result of the corporate acquisition, Smile’s per cent of the popular Danish Cock’s & Cows and The
foothold as a national operator was strengthened, Bird companies, which operate a total of 11 restaurants
particularly in the sectors of industry, construction and bars in Copenhagen. During summer 2018, both
and logistics. restaurant concepts will open new restaurants in prime
locations at the Copenhagen international airport.
Mango Discobar, Oulu
In February 2018, a new Mango Discobar nightclub Classic American Diner, Turku
was opened in Oulu. Restamax will open its eleventh Classic American Diner
restaurant in Turku in spring 2018.
Opening of adventure rooms, Tampere
and Seinäjoki Gaming restaurant, Oulu
Restamax subsidiary Poolmax Oy opened several new Restamax subsidiary Poolmax will open a new gaming
adventure rooms. In February 2018, a Vihahuone restaurant for adults in Oulu in 2018.
rage room was opened at Crazy amusement centre
in Tampere, and two Run Out escape rooms were The acquisition of Royal Ravintolat
opened in Seinäjoki. In March, the first known pitch In April 2018, Restamax announced its intention to
black escape room in Finland, Dark Room: Ihmiskoe purchase the entire shareholding of RR Holding Oy
(“Human Experiment”), was opened at Crazy amuse- (Royal Ravintolat). The implementation of the deal is
ment centre in Tampere. conditional on a share issue decision by Restamax’s
General Meeting and on the organising of financing
Smile’s listing evaluation for the cash purchase price. Royal Ravintolat's best-
In March 2018, Restamax communicated that the Board known brands include Hanko Sushi, Pizzarium, Savoy,
of Directors decided to review and evaluate the listing Löyly, Ravintola Palace and Ravintola Teatteri. The
of the labour hire business comprising the subsidiary transaction will create one of the largest restaurant
Smile Henkilöstöpalvelut Oy and its subgroup on the groups in the Nordic countries listed on the Helsinki
Nasdaq Helsinki Ltd Stock Exchange. The evaluation Stock Exchange. The integration will be carried out in
process will be carried out during spring 2018. late 2018 and early 2019.

Restamax Plc