Biggest fashion franchise owner in Romania takes over restaurant chain

The biggest fashion franchise owner in Romania, Arab group Peeraj, took over 75% of the shares of Calif-Condimental restaurant network and aims to double its network to at least 16 restaurants by the end of 2018. The restaurant chain currently has seven units, all in Bucharest. “We will expand in Bucharest and neighboring towns. We want to open 11 new units by the end of this year, but this depends on the available spaces. However, we will at least double the network,” said Sachin Arora, the manager of Peeraj’s local business and also one of the group’s shareholders, according to local Ziarul Financiar. Calif-Condimental was founded in 2010 by three Romanian investors: Radu Tanase, Bogdan Jantea and Alexandru Stoichitoiu. Earlier this year, Peeraj sold the CCC shoe store franchise in Romania to the retailer’s parent-group in Poland for EUR 33 million. editor@romania-insider.com (photo source: Facebook / Calif)