Boo! enters into a collaboration agreement with LIFT ASSET MANAGEMENT to be part of its real estate platform in Spain for the cloud kitchen business and accelerate its growth

AM ELEVATOR runs one of the first real estate platforms cloud kitchen in Spain with the aim of building the largest portfolio of properties for this activity in the main Spanish capitals.

Booh!, one of the operators of cloud kitchen benchmark in Spain, has entered into a collaboration agreement with LIFT AM to be part of said platform as one of its preferred operators and undertake the opening of 20 cloud kitchens in Spain and Europe.

LIFT Asset Management, an independent asset management and advisory firm for institutional investors, corporates and family groups, created mid-year one of the first real estate platforms in Spain specializing in cloud kitchen in association with the main operators in the sector. As part of its strategy to become the leader in this real estate segment, LIFT AM has entered into an agreement with Booh!, one of the main operators of cloud kitchen in Spain, in order to continue promoting the platform in Spain, and in the medium term, to analyze the opportunities for expansion in Portugal, Italy and France. LIFT AM is the first real estate investor in Spain to embark on this activity and the first to exercise it through joint ventures with the operators of cloud kitchen.

Company cloud kitchen

The ace kithcens cloud They have recently become a rising trend in the restaurant industry. These professional kitchens that do not have spaces open to the public and distribute through platforms such as Glovo or JustEat, have become the new industrial phenomenon in the catering sector. This model brings many advantages to restaurants, mainly cost savings, scalability for rapid expansion and the possibility of having real-time information on the interests of its customers. This versatility has allowed cloud kitchens have become the preferred option for restaurants to open new business areas. After the pandemic, the food delivery market has further consolidated as a restaurant format, achieving greater professionalization of operators in this market, highlighting BOOH! as one of the references in this sector.

The collaboration agreement

LIFT AM intends to take advantage of the strong growth of the food delivery in Spain to, as has been observed in other European countries, provide real estate infrastructure suitable for this sector. In this sense, real estate investment in cloud kitchen It is positioning itself as one of the most attractive segments with the greatest potential for growth in city logistics (last mile), attracting the interest of institutional investors specializing in real estate worldwide.

This investment, articulated in the form of SOCIMI, will allow investors to participate in a diversified portfolio of real estate assets with a much higher risk-return ratio than other similar real estate assets. Strategy that has already materialized in other countries with large companies such as Reef Kitchen or Kitopi as the most active players in the sector.

The alliance with Booh!, which has a distinctive brand and model in this sector, allows LIFT AM to provide this investment with great visibility on profitability and the rate of investment, since it combines the know-how of Booh! operating cloud kitchen with LIFT AM’s experience in identifying and managing unique investment opportunities in the Spanish real estate sector.

Boo! and his roadmap

Boo! He was one of the pioneers in the field of food delivery In Spain. Today it operates in Malaga and with new nationwide openings scheduled for September and counts Pizza Hut and Healthy Poke among its most relevant brands. Likewise, Booh! is characterized compared to its competitors by its strong technological component, its strong reputation and an operating model based on service (delivery as a service). The agreement with LIFT AM will contribute to the national expansion of the operator and to strengthen its image, consolidating the bet made since the beginning of the year in which it intends to separate the operations from the real estate part which passes into the hands of the companies specializing in the sector. This agreement is accompanied by the follow of the main investors of Booh! : Innventuur Partners Group and Andreas Mihalovits. The start Boo! will proceed to the opening of 20 centers of cloud kitchens on national territory in cities such as Valencia, Bilbao, La Coruña, Vigo and in Europe with a Hourly two years In this sense, Booh! defined a roadmap for its expansion based on criteria of population density, consumption habits and per capita income. When Booh! These new cities will also be accompanied by the entire group of catering brands that currently operate under its model, offering a quality home delivery service, where multi-ordering between restaurants is presented as a differential value compared to its competitors.

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