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CoverManager and Zenchef, two leading providers of digital solutions for restaurants and hospitality venues across Europe and Latin America, have announced today their strategic decision to join forces, creating a European leader in restaurant revenue management.

A Strategic Combination Between Two Complementary Leaders

CoverManager and Zenchef are both innovative and independent players in the digitalization of the restaurant industry. Zenchef, which is well-established across Northern Europe, offers advanced tools to manage online reservations, customer relationships and digital visibility. Meanwhile, CoverManager brings a strong position in Southern Europe and Latin America, with a high-end platform focused on optimizing the guest experience, loyalty and yield management.

Together, the combined group will aim to provide restaurants with a comprehensive and independent Revenue Management Platform. This type of platform will move beyond reservation systems to deliver a powerful, AI and data-driven ecosystem that empowers restaurants to control every step of the guest journey – from discovery to loyalty – while maximizing revenue and profitability.

With a combined network of over 36,000 restaurants handling more than 650 million guest experiences annually across 20+ countries, the new group is set to emerge as a leading alternative to global platforms, committed to putting control back into the hands of restaurateurs. The platform’s tools empower restaurants to manage their digital presence, customer data and bookings without incurring commissions or relying on third-party intermediaries.

In addition, with a network of almost 800 Michelin-starred restaurants – including 60% of all Michelin-starred establishments in France and the Benelux, and 50% in Spain – alongside numerous other fine-dining destinations, the combined group will reinforce its position as a leader in the fine-dining segment.

Growth in a Digitally Transforming Restaurant Industry

By leveraging their complementary strengths, CoverManager and Zenchef will accelerate innovation and scale, delivering next-generation tools that meet the evolving needs of restaurants. Their shared vision is to enable restaurants to own their customer relationships and data, drive sustainable growth, and achieve profitability through independence and innovation.

The combined group will benefit from meaningful product synergies, accelerated geographic expansion, and a stronger value proposition in a fast-evolving hospitality sector. Industry trends such as digitalization, multi-channel inventory management and the growing need for direct guest relationships create a large market opportunity, valued at over €4 billion.

With over 500 employees and operations in 10 countries, the new group is well-positioned to lead this transformation.

Structure, Governance and Brands

The two companies will continue to operate under their respective brand names and retain their current headquarters — Zenchef in Paris, France and CoverManager in Seville, Spain — to ensure operational continuity for clients and partners. Both brands will remain independent to capitalize on their strong recognition and local expertise, ensuring founders and management teams continue to drive the strong performance of each business. A newly formed holding company will oversee both businesses. Thomas Jeanjean, CEO of Zenchef, will serve as the new group’s CEO.

Thomas Jeanjean, CEO of Zenchef: “This combination marks a major milestone in our mission to support restaurateurs with independent, high-performance tools. Together, we’re aiming to build the most robust, AI and data-driven ecosystem in the market – one that helps restaurants thrive and grow on their own terms. We look forward to working hand-in-hand with the CoverManager team to build the future of restaurant technology and accelerate our impact across Europe and globally.”

José Antonio Pérez, CEO of CoverManager: “By joining forces with Zenchef, we are building a gold standard in tech for the hospitality industry, allowing us to amplify our impact and accelerate our shared vision. This combination enables us to deliver even greater value to restaurants, empowering them to take control of their destiny in a highly competitive market and to deliver memorable guest experiences.”

PSG Equity, which has held a majority stake in Zenchef since 2022, will remain the majority shareholder of the combined group, continuing to support its next chapter of growth.

Edward Hughes, Managing Director at PSG Equity: “We are proud to support the combination of Zenchef and CoverManager, two exceptional European companies with complementary strengths and a shared commitment to restaurant success. This partnership reflects PSG’s strategy to propel European category champions with global potential, and we believe the new platform is well-positioned to transform how restaurants manage and grow their revenue.”

The transaction is expected to close during Q3 2025. Financial terms of the transaction are not being disclosed.

About ZenchefZenchef empowers restaurants of all sizes – from family-owned bistros to Michelin-starred destinations – to take control of their guest experience and revenue management. With ZenchefOS, a commission-free platform, restaurants can streamline reservations, optimize table management, and accelerate payments, all while creating seamless, memorable dining experiences.

Used by acclaimed establishments such as Table by Bruno Verjus, De Librije, Geranium and Alléno Paris, Zenchef is redefining restaurant success with technology that puts hospitality first.

www.zenchef.com

About CoverManagerCoverManager supports restaurants, nightclubs and beach clubs across Europe and LATAM, increasing customer demand and loyalty, reducing no-shows and streamlining operations through its hospitality solution. Founded in 2015, CoverManager integrates with over 140 technology tools to elevate the guest experience for venues ranging from small neighborhood gems to Michelin-starred restaurants.

www.covermanager.com

About PSG EquityPSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 150 companies and facilitated over 520 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel Aviv. To learn more about PSG, visit www.psgequity.com.

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