Founded on Chef Junior Durski’s core belief that superior quality must be at the heart of any successful restaurant business model, we believe we are one of the fastest-growing multi-brand restaurant companies in Brazil in terms of sales and restaurant count. Driven by this unwavering commitment to quality, the Company grew from its first and only Madero Steak House restaurant, opened on June 7, 2005 in Curitiba, to a nationwide portfolio of 355 restaurants across 283 multi-brand operations as of March 31, 2026, supported by a vertically integrated production, distribution, and logistics platform. Our growth track record demonstrates that a restaurant platform built to deliver Chef Junior’s vision of quality above all—for both customers and employees—can be a source of sustainable competitive advantage.
After nearly a decade refining the Madero Steak House concept, Chef Junior recognized that Grupo Madero could serve new customers and expand its reach by adapting the Madero Steak House concept to meet evolving consumer preferences.
In 2014, we opened the first Madero Container, one of Brazil’s first fast-casual concepts, offering a streamlined menu focused on our grilled burgers.
In 2015, we opened the first phase of our current 3,715-square-meter Central Kitchen in Ponta Grossa, Paraná. It now sits at the core of our vertically integrated operating model, where we produce or source more than 96% of the food served in our restaurants, store restaurant supplies, and manage our distribution network.
In 2017, we launched Jeronimo, a technology-driven fast-casual concept uniquely positioned to serve a younger and broader-income customer base at more accessible prices. Formats include Jeronimo Smash Burger in food courts and standalone mall locations, as well as Jeronimo Track, a standalone Jeronimo concept with a drive-thru.
From 2018 through December 31, 2021, we invested approximately R$328.7 million to expand capacity and reduce operating costs at our Central Kitchen, with the objective of materially improving operational efficiency. As of December 31, 2023, the Central Kitchen’s total built area was 32,408 square meters, comprising four production plants—Meat Processing, Sauces and Desserts, Sausages and Smoked Products, and Burgers and Bakery—together with a robotic distribution center and dry goods warehouse, on an 80,781-square-meter site.
Beginning in 2018, we centralized the production of most of our vegetables at an organic farm located near our Central Kitchen. Combined with our preservative-free products, this supports a strong balance of flavor and wellness in the food served at our restaurants.
Today, we primarily operate Company-owned restaurants under two main brands, Madero and Jeronimo, across multiple concepts, including Madero Steak House and Madero Burger under the Madero brand, and Jeronimo Smash Burger and Jeronimo Track under the Jeronimo brand, in addition to the Madero & Jeronimo hybrid format.
In January 2019, we received a significant R$700 million investment from Madrid Fundo de Investimento em Participações Multiestratégia, (related to The Carlyle Group), to finance the continued execution of our growth strategy and support the development of best practices in corporate governance and internal controls.
In March 2020, Grupo Madero developed and launched its own delivery app, expanding its service model into digital channels. At the same time, we integrated our operations with the leading delivery marketplace platforms, ensuring broad digital reach. This rapid adaptation to a new environment proved to be a lasting competitive advantage, and digital channels continue to represent a significant portion of the Company’s revenue.
In December 2020, we launched Ecoparada Madero on the Castello Branco Highway in the state of São Paulo, one of Brazil’s main highways. The site is a differentiated food-service complex that introduced an innovative roadside dining concept in Brazil. Its facilities are environmentally sustainable, with solar power generation, rainwater collection, electric vehicle charging stations, and an organic waste separation process that converts waste into fertilizer. The complex comprises six operations, including Madero Grill, Madero Burger, and Jeronimo Smash Burger, and introduced new brands such as Madero Café, Empório Madero, and a convenience store.
In November 2021, the Company received an additional R$300 million primary investment from Madrid FIP, controlled by The Carlyle Group, primarily to finance the sustainable expansion strategy of Grupo Madero’s restaurant network.
In 2024, we introduced a new operating format, the Madero & Jeronimo Hybrid. This format combines two restaurants in the same physical space, optimizing capital investment and operating expenses. In addition to its financial benefits, the hybrid operations increased the visibility of the Madero and Jeronimo brands and expanded the geographic coverage of delivery service.
In 2025, driven by the continued growth of delivery as a share of the Company’s total revenue, we further expanded Jeronimo’s delivery coverage by implementing Jeronimo dark kitchens within Madero Steak House locations. With limited investment needs and minimal operational disruption to existing restaurants, this initiative helped optimize corporate resources.
Also in 2025, we introduced a new product line across our restaurant network: Empanadas Madero. Following strong customer acceptance, we built an empanada production line at the Central Kitchen to meet demand.
Finally, in 2026, Grupo Madero took its first step toward international expansion by opening a Madero Steak House restaurant and a Jeronimo Smash Burger restaurant in Ciudad del Este, Paraguay.
Our commitment to quality across every aspect of our business has supported strong revenue growth in recent years. With our Central Kitchen in place and our corporate infrastructure established, we believe we are well positioned to continue delivering strong and profitable growth.