The matter had been pondered along very similar lines here as well. To me, the most encouraging thing was that even the management believed synergy could be achieved through shopping center lease agreements. I’m not familiar with that world, but the understanding is that the agreements are tight, so it’s good to hear that the management sees opportunities there.
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No major changes, though one person has put 30k shares up for sale, which by NoHo’s standards is already a significant amount - a matter of several days, if not a week. Aku’s sales are also on hold, let that be a statement that the valuation is lagging 
We’ve been declining for about four months now.
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Deal announced, 75% ownership stake for NoHo. “In 2024, the company’s revenue was approximately 12.5 million euros and it had approximately 300 employees.” No mention of the purchase price.
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Here are Sale’s comments on this recent news. 
NoHo announced this morning that it is acquiring 75% of the smoothie and juice bar chain Jungle Juice Bar (JJB). The deal was already known in advance, as it had previously been under KKV’s review. The company’s founders will remain with a 25% minority stake. The purchase price was not disclosed, but we estimate it to be quite low (Inderes estimate: EUR 4–6 million) due to the company’s weak profitability. The deal has a positive impact of a few percentage points on NoHo’s figures, and we will add the deal to our forecasts in connection with the next update.
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Investment gurus interviewed by Kauppalehti like Noho Partners Real dividends and autumn dividends mentioned.
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From today’s Aamulehti: 94109 spectators have been at Nokia Arena for the European Basketball Championships so far, meaning these games will likely be a considerable cash cow.
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Noho is stepping on the gas on the ruins of Rekom. Surely the lease agreements have been refined in such a way that good business can be done here with the help of student parties.
From Helsinki (and elsewhere in Finland), if one could acquire Jouni Lanamäki’s 75-year-old karaoke empire, then the portfolio would be in tip-top shape
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NoHo’s progress certainly looks strong. Even on that list of restaurants in Tampere city center, most are NoHo restaurants, and they are constantly expanding and acquiring new operations. I believe that NoHo will become the dominant player in this industry over time.
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Message was merged into the thread: My experiences with companies
Then it’s just back to eating fries again next week. I guess I’ll have to get a burger to go with them. 
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Was this a traditional golf share redemption by NoHo?
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NoHo’s CEO Jarno Suominen was talking about his company as an investment target at the Stock Investor’s Week.
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I listened to this on my evening run, as I’ve bought a bit more in recent months. Nothing particularly new, but I hadn’t previously considered that one of the synergies between Noho Partners’ various concepts would be this internal career path, where Jungle Juice Bar serves as a kind of entry-level job. Such a career path model could be quite significant when competing for skilled professionals.
This might be a bit off-topic and in the curiosity department, but I recall a discussion years ago with a Swedish private equity investor. At the time, we pondered that NoHo Partners is an abbreviation for Nordic Hospitality Partners, where ‘hospitality’ clearly refers to a broader industry than just restaurants and nightclubs. Back then, we wondered if a merger between a Nordic restaurant operator and a hotel chain would be a unique opportunity. When one thinks about it more closely, for example, the Swedish Scandic Hotel chain has over 60 hotels in Finland, over 80 in both Sweden and Norway, and a few dozen in Denmark. Virtually all of these have their own restaurant and, naturally, breakfast services, for which there could be significant synergy. I don’t actually know of a single combination of a restaurant operator and a hotel chain globally, but I also don’t directly see a reason why such a combination shouldn’t be built.
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It also became clear in Jarno Suominen’s interview segment that the biggest synergies and impact on profitability are offered by group-level operational control, meaning restaurants must be managed individually on a daily basis. This means adjusting the opening hours and staffing levels of individual restaurants according to customer traffic. Staff costs are the largest expense, but control does not solely mean minimizing staff; rather, during peak hours, it ensures there are enough staff. Other factors contributing to NoHo’s excellent profitability include economies of scale in purchasing and other scale-based advantages, as well as a broad restaurant portfolio, meaning different types of restaurants thrive in different economic conditions and balance the business.
The most popular weekends of the pre-Christmas party season are already fully booked in NoHo’s large event restaurants, and the company’s own annual party (pre-Christmas party) was held this Monday at Messukeskus with 1800 attendees.
The company’s presentation segment itself seemed a bit stiff, but some relaxation was noticeable in the sofa segment. Based on my observations at the annual general meeting, Suominen seems like a genuinely pleasant person, so I believe people leadership is one of his strengths. I would have hoped for a bit more company-specific knowledge from the Kauppalehti interviewers.
The interview also revealed that a year and a half ago, NoHo opened the Camping restaurant on Iso Rooba (Helsinki), which features a 13-hole mini-golf course. The idea originates from a Norwegian Camping bar concept, behind which is a multiple Norwegian champion in disc golf. It is a street food-style restaurant that transforms into a nightclub in the evenings. Mini-golf is also used by families with children during the day. I summarized the above because this might be behind a paywall: Helsinki Camping -viihderavintola avautuu maaliskuussa | HS.fi
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“I would have hoped for a bit more company-specific knowledge from Kauppalehti’s interviewers.”
This was put quite politely. In my opinion, it fell quite short, and incomprehensible comments came up on several occasions.
Overall, it remained on the positive side, with interesting points about NoHo’s operations and future. What particularly stood out was how emphatically and quickly the CEO said that operational management and the right number of employees are the most important synergy benefit. The right number of employees, especially during peak hours, can be a surprisingly important addition, allowing you to sell an extra bottle or two of wine per employee per hour, which easily covers the employee’s salary and a little extra.
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What grated on my ears the most was when the CEO proactively mentioned the possible exit related to BBS. It somehow gave me the impression that it might be coming in the near future. From what I’ve understood, this should have a significant impact on the share value.
I personally see it as positive that it is brought up. Of course, I don’t want an Exit to be made too early if there’s still potential. But Intera’s willingness greatly influences this.
As long as we divest when the time is truly right and the price is in the right ballpark. No thanks to Eezy 2.0, which was in principle a great investment when one examines how much was invested in it. But divesting seemed challenging.
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In the restaurant area of Lempäälä Ideapark, there has been Noho’s Bella Roma + BeefKing + Daddys Diner concept. An article in Aamulehti (paywall) reveals that, among other things, hygiene has been neglected. The place is now closed, at least for the time being.
Edit:
Aamulehti also published another Noho article related to Ideapark. Hopefully, the same carelessness is not found in other Noho locations where staffing resources have been “optimized” to defend profit margins.
(paywall)
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Some weekend reading, @Sauli_Vilen has diligently worked on a new extensive report. These are freely available for everyone to read: NoHo Partners laaja raportti: Arvonluonnin reseptinä tuloskasvu - Inderes
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