Vesta, the restaurant brand owned by Triple Sea Food Holding (Tsf), is opening two new locations this summer in the upscale seaside towns of Portofino and Marina di Pietrasanta.

The moves come as the holding company, which is partly owned by Leonardo Maria Del Vecchio’s Lmdv Capital, has seen its valuation recently estimated at around $50 million by one of the Big Four accounting firms. The new Vesta Portofino will be located inside Le Carillon beach club on the picturesque Paraggi Bay, which was taken over creatively this year by Dolce&Gabbana to rebrand as Le Carillon Dolce&Gabbana Resort. In Marina di Pietrasanta, Vesta has taken over the entire Franco Mare beach club and will offer 53 private cabanas with dedicated menus alongside the restaurant, as well as an ice bath for fresh catches and a Basque-style grill. The dual openings mark the fifth and sixth locations for the rapidly expanding Tsf Holding in under two years. They join the original Vesta in Milan’s Brera district along with the company’s Trattoria del Ciumbia and Casa Fiori Chiari restaurants in the same neighborhood.

“The results and growth prospects are so solid that the valuation of Tsf, conducted by one of the ‘Big Four’ global consulting firms, was recently estimated in the range of €45 million ($50 million),” said Davide Ciancio, CEO and co-founder. “With the new 2024 openings we’ll cross the threshold of 250 employees and look ahead confidently to new projects in 2025 across all three of our brands.”

The premium seaside expansions underscore the soaring ambitions of the upstart Milan hospitality group as it rides a wave of demand for high-end dining experiences in Italy’s most prestigious locales. With a valuation typically reserved for tech unicorns, Tsf is aiming to quickly become a dominant national player in the country’s restaurant scene.

Source: Monitor Immobiliare
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