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.