Young businessman Andrei Iusut sold Divan Group restaurants to a Turkish investment fund for an undisclosed sum, after eight years in which he developed this family business, a press release informs.
Divan Group consists of three restaurants and three fast-foods, all located in downtown Bucharest, thus Andrei Iusut getting out of the business for a while.
“After eight years in which I developed three types of restaurants, I decided to take a break and dedicate the following period to my family. As business plans, I do not exclude that, in the future, to decide entering other areas besides HoReCa, but I will definitely stay in the services sector. Divan Group represented for me the beginning of my entrepreneur life, which has now become what I would call the start of a corporation. Certainly, I will start a new chapter of my career as an entrepreneur as well, but, right now, I’m exploring several niches,” Iusut said.
The group was founded in 2009 with the opening of the first Divan restaurant in Bucharest’s Old Center, followed by Meze Taverna launching in 2012, the second Divan in 2013 and Divan Express in 2016.
Currently, Divan Express has restaurants in Romana Square, Victoria Square and Pipera. In the first nine months of activity, Divan Express in Piata Romana had a turnover of over EUR 1 million given that the unit operates in an area of only 47 square meters.
Kuzina restaurant was added on the list of the units opened last year, in Barbu Vacarescu area.