Defood Acquired by Apollo Group | Consumer M&A Deal

Apollo Group has acquired Defood, a restaurant franchise business in Lithuania, for $5.34M. Apollo Group acquisitions include RESTORANI DVYLIKA UAB and CCF KAVINĖS UAB, which operate self-service “12” restaurants and Caif Cafe cafes in Lithuania. The Defood acquisition expands Apollo Group’s consumer M&A footprint in the Lithuanian restaurant franchise market and adds new formats to its existing brands. The add on acquisition is an announced strategic acquisition by a strategic buyer, structured as a share purchase for 100% of Defood’s Lithuanian operating companies, subject to Lithuanian Competition Authority approval and customary closing formalities.