The Hemingway Group
(“THG”) entered Central/Eastern
Europe in 1988 and with the 1989 acquisition
of Orient Plc. added more than 120 restaurants
to its portfolio. In 1990 THG privatized a government
controlled retail chain of 80 gourmet, candy,
liquor and souvenir stores to create Bonbon
Hemingway, Plc. In the same year our European
acquisition company, Hemingway Holding AG went
public in Vienna, Austria and the listing of
Bonbon Hemingway on the newly formed Budapest
Stock Exchange followed in 1991. THG continued
to acquire various firms, including a trading
and a real estate company throughout 1991.
In 1992, through a subsidiary, the Central European
Franchise Group, Ltd. (CEFG), THG became the
exclusive licensee in Hungary for Pizza Hut
and Kentucky Fried Chicken. Although operating
in a small market, CEFG built more than 20 franchised
units in Hungary.
In 2004 THG purchased most
of the shares of Hemingway Holding AG from minority
shareholders and now owns more than 99% of all
issued shares. Orient, Plc. now functions as
a restaurant development and lessor entity.
THG continues to actively invest throughout
the European Union.