Koykan – Company & Model Overview<\/title>\n<style>\n html,body{margin:0;padding:0;background:#FFFFFF;}\n .wrap{width:100%;max-width:1240px;margin:0 auto;}\n .wrap svg{display:block;width:100%;height:auto;}\n @media print{ @page{ size:1240px 7656px; margin:0; } body{margin:0;} }\n<\/style>\n<\/head>\n<body>\n<div class=\"wrap\">\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 1240 7656\" width=\"1240\" height=\"7656\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\">\n<defs>\n<marker id=\"aAmb\" viewbox=\"0 0 10 10\" refx=\"8\" refy=\"5\" markerwidth=\"8\" markerheight=\"8\" orient=\"auto\"><path d=\"M 0 0.0 L 10 5.0 L 0 10.0 Z\" fill=\"#854F0B\" \/><\/marker>\n<marker id=\"aPur\" viewbox=\"0 0 10 10\" refx=\"8\" refy=\"5\" markerwidth=\"8\" markerheight=\"8\" orient=\"auto\"><path d=\"M 0 0.0 L 10 5.0 L 0 10.0 Z\" fill=\"#534AB7\" \/><\/marker>\n<marker id=\"aGrn\" viewbox=\"0 0 10 10\" refx=\"8\" refy=\"5\" markerwidth=\"8\" markerheight=\"8\" orient=\"auto\"><path d=\"M 0 0.0 L 10 5.0 L 0 10.0 Z\" fill=\"#0F6E56\" \/><\/marker>\n<marker id=\"aPnk\" viewbox=\"0 0 10 10\" refx=\"8\" refy=\"5\" markerwidth=\"8\" markerheight=\"8\" orient=\"auto\"><path d=\"M 0 0.0 L 10 5.0 L 0 10.0 Z\" fill=\"#993556\" \/><\/marker>\n<marker id=\"aGray\" viewbox=\"0 0 10 10\" refx=\"8\" refy=\"5\" markerwidth=\"8\" markerheight=\"8\" orient=\"auto\"><path d=\"M 0 0.0 L 10 5.0 L 0 10.0 Z\" fill=\"#5F5E5A\" \/><\/marker>\n<\/defs>\n<rect width=\"1240\" height=\"7656\" fill=\"#FFFFFF\" \/>\n<rect x=\"0.0\" y=\"0\" width=\"1240.0\" height=\"252.0\" rx=\"0\" ry=\"0\" fill=\"#1A1A1A\" \/>\n<text x=\"120.0\" y=\"58\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"bold\" fill=\"#8B6914\" letter-spacing=\"3\">koykan<\/text>\n<text x=\"252.0\" y=\"58\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"18\" font-weight=\"normal\" fill=\"#b7b1a4\">– looking forward, 2026 and beyond<\/text>\n<text x=\"119.0\" y=\"124\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"46\" font-weight=\"500\" fill=\"#FFFFFF\" letter-spacing=\"-0.5\">Koykan – company & model overview<\/text>\n<rect x=\"120.0\" y=\"142\" width=\"64.0\" height=\"5.0\" rx=\"2\" ry=\"2\" fill=\"#8B6914\" \/>\n<text x=\"120.0\" y=\"182\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"normal\" fill=\"#dcd7cc\">A European street-food brand that grows through local partners and a coordinated capital structure<\/text>\n<text x=\"120.0\" y=\"210\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#a59f92\">Who we are, what we do and how we grow<\/text>\n<text x=\"120.0\" y=\"232\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#7d7768\" letter-spacing=\"3\">stay hungry for more<\/text>\n<g transform=\"translate(0,0)\"><polyline points=\"1040,94.0 1064,120.0 1040,146.0\" fill=\"none\" stroke=\"#8B6914\" stroke-width=\"7\" stroke-linecap=\"round\" stroke-linejoin=\"round\" opacity=\"0.30\" \/>\n<\/g><g transform=\"translate(0,0)\"><polyline points=\"1082,94.0 1106,120.0 1082,146.0\" fill=\"none\" stroke=\"#8B6914\" stroke-width=\"7\" stroke-linecap=\"round\" stroke-linejoin=\"round\" opacity=\"0.60\" \/>\n<\/g><g transform=\"translate(0,0)\"><polyline points=\"1124,94.0 1148,120.0 1124,146.0\" fill=\"none\" stroke=\"#8B6914\" stroke-width=\"7\" stroke-linecap=\"round\" stroke-linejoin=\"round\" opacity=\"0.90\" \/>\n<\/g><line x1=\"92.0\" y1=\"470.5\" x2=\"124.0\" y2=\"470.5\" stroke=\"#0F6E56\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"292\" width=\"1056.0\" height=\"357.0\" rx=\"18\" ry=\"18\" fill=\"#F0FAF6\" stroke=\"#0F6E56\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"338\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,28)\"><path d=\"M 153 308.0 v 15 h 30 v -15\" \/><\/g><g transform=\"translate(0,28)\"><path d=\"M 151 302.0 l 4 -8 h 26 l 4 8 z\" \/><\/g><g transform=\"translate(0,28)\"><path d=\"M 164 323.0 v -9 h 8 v 9\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"332\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#04342C\">Who we are<\/text>\n<rect x=\"206.0\" y=\"344\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#0F6E56\" \/>\n<text x=\"206.0\" y=\"368\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">A proven operating system across four European markets<\/text>\n<text x=\"164.0\" y=\"401\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Koykan runs fresh street-food restaurants in shopping-mall and high foot traffic locations across four European markets.<\/text>\n<text x=\"164.0\" y=\"435\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Each kitchen follows the same standard and the menu performs consistently across borders.<\/text>\n<text x=\"164.0\" y=\"469\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Behind the restaurants sits a complete system: a defined operating model, a franchise framework, a supply chain and digital infrastructure.<\/text>\n<rect x=\"164.0\" y=\"501\" width=\"229.0\" height=\"116.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"278.5\" y=\"551\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"27\" font-weight=\"500\" fill=\"#0F6E56\" text-anchor=\"middle\">10<\/text>\n<text x=\"278.5\" y=\"577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">restaurants<\/text>\n<text x=\"278.5\" y=\"596\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">9 open, 1 being built<\/text>\n<rect x=\"413.0\" y=\"501\" width=\"229.0\" height=\"116.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"527.5\" y=\"551\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"18\" font-weight=\"500\" fill=\"#0F6E56\" text-anchor=\"middle\">4 EU markets<\/text>\n<text x=\"527.5\" y=\"577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Germany, Czechia,<\/text>\n<text x=\"527.5\" y=\"596\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Slovakia, Croatia<\/text>\n<rect x=\"662.0\" y=\"501\" width=\"229.0\" height=\"116.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"776.5\" y=\"551\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#854F0B\" text-anchor=\"middle\">Proven<\/text>\n<text x=\"776.5\" y=\"577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">unit economics<\/text>\n<text x=\"776.5\" y=\"596\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">per restaurant<\/text>\n<rect x=\"911.0\" y=\"501\" width=\"229.0\" height=\"116.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"1025.5\" y=\"551\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#534AB7\" text-anchor=\"middle\">Profitable<\/text>\n<text x=\"1025.5\" y=\"577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">at the restaurant<\/text>\n<text x=\"1025.5\" y=\"596\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">level today<\/text>\n<line x1=\"620.0\" y1=\"651\" x2=\"620.0\" y2=\"691\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"363.0\" y=\"693\" width=\"514.0\" height=\"76.0\" rx=\"16\" ry=\"16\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"389.0\" cy=\"731\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"409.0\" y=\"725\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Koykan’s strength is the system behind the restaurants.<\/text>\n<text x=\"409.0\" y=\"747\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The next sections show how that system fits together.<\/text>\n<line x1=\"620.0\" y1=\"771\" x2=\"620.0\" y2=\"811\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"1073.5\" x2=\"124.0\" y2=\"1073.5\" stroke=\"#534AB7\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"813\" width=\"1056.0\" height=\"521.0\" rx=\"18\" ry=\"18\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"859\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#534AB7\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#534AB7\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,54)\"><path d=\"M 168 793.0 v 8 M 168 801.0 l -9 8 M 168 801.0 l 9 8\" \/><\/g><circle cx=\"168\" cy=\"846\" r=\"2.4\" fill=\"#534AB7\" \/><circle cx=\"157\" cy=\"865\" r=\"2.4\" fill=\"#534AB7\" \/><circle cx=\"179\" cy=\"865\" r=\"2.4\" fill=\"#534AB7\" \/><\/g>\n<text x=\"206.0\" y=\"853\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#26215C\">What we do<\/text>\n<rect x=\"206.0\" y=\"865\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#534AB7\" \/>\n<text x=\"206.0\" y=\"889\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Koykan owns the brand; Partners and Investors back the restaurants<\/text>\n<text x=\"164.0\" y=\"922\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Koykan owns the brand, the recipes and the complete operating system, which it licenses to each restaurant for a royalty fee.<\/text>\n<text x=\"164.0\" y=\"956\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Most restaurants are built and run by an operating partner, mostly financed by investors and owned by all three parties in predefined proportions.<\/text>\n<rect x=\"164.0\" y=\"986\" width=\"476.0\" height=\"150.0\" rx=\"12\" ry=\"12\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<text x=\"190.0\" y=\"1026\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#26215C\">Koykan owns the brand and system<\/text>\n<circle cx=\"193.0\" cy=\"1061.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"206.0\" y=\"1065\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#3C3489\">Owns the brand, recipes and standards<\/text>\n<circle cx=\"193.0\" cy=\"1088.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"206.0\" y=\"1092\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#3C3489\">Licenses it to each restaurant for a royalty fee<\/text>\n<circle cx=\"193.0\" cy=\"1115.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"206.0\" y=\"1119\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#3C3489\">Holds a stake in each restaurant company<\/text>\n<rect x=\"664.0\" y=\"986\" width=\"476.0\" height=\"150.0\" rx=\"12\" ry=\"12\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.9\" \/>\n<text x=\"690.0\" y=\"1026\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#04342C\">Partners and Investors back the restaurants<\/text>\n<circle cx=\"693.0\" cy=\"1061.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"706.0\" y=\"1065\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#085041\">Operating Partners build and run them<\/text>\n<circle cx=\"693.0\" cy=\"1088.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"706.0\" y=\"1092\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#085041\">Investors and Partners provide the capital<\/text>\n<circle cx=\"693.0\" cy=\"1115.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"706.0\" y=\"1119\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#085041\">Owned by Investors, Koykan and Partners<\/text>\n<rect x=\"164.0\" y=\"1152\" width=\"976.0\" height=\"166.0\" rx=\"12\" ry=\"12\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"1152\" width=\"7.0\" height=\"166.0\" rx=\"12\" ry=\"12\" fill=\"#534AB7\" \/>\n<text x=\"190.0\" y=\"1186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#26215C\">What Koykan owns<\/text>\n<text x=\"190.0\" y=\"1207\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12\" font-weight=\"normal\" fill=\"#5F5E5A\">The full system behind the restaurants, licensed to each one for a royalty fee<\/text>\n<circle cx=\"196.0\" cy=\"1233.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"208.0\" y=\"1237\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The brand and trademarks<\/text>\n<circle cx=\"196.0\" cy=\"1257.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"208.0\" y=\"1261\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The recipes and the menu<\/text>\n<circle cx=\"196.0\" cy=\"1281.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"208.0\" y=\"1285\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The operating model and standards<\/text>\n<circle cx=\"196.0\" cy=\"1305.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"208.0\" y=\"1309\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The kitchen and production technology<\/text>\n<circle cx=\"616.0\" cy=\"1233.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"628.0\" y=\"1237\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The supply chain and procurement<\/text>\n<circle cx=\"616.0\" cy=\"1257.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"628.0\" y=\"1261\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The franchise platform and know-how<\/text>\n<circle cx=\"616.0\" cy=\"1281.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"628.0\" y=\"1285\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The digital backbone<\/text>\n<line x1=\"620.0\" y1=\"1336\" x2=\"620.0\" y2=\"1376\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"359.2\" y=\"1378\" width=\"521.6\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"385.20000000000005\" cy=\"1405\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"405.2\" y=\"1410\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Koykan does this through three parts that work together.<\/text>\n<line x1=\"620.0\" y1=\"1434\" x2=\"620.0\" y2=\"1474\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"1655.5\" x2=\"124.0\" y2=\"1655.5\" stroke=\"#6B7280\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"1476\" width=\"1056.0\" height=\"359.0\" rx=\"18\" ry=\"18\" fill=\"#FAFAF8\" stroke=\"#6B7280\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"1522\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#6B7280\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#6B7280\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><rect x=\"159\" y=\"1513\" width=\"6.5\" height=\"6.5\" rx=\"1.4\" \/><rect x=\"159\" y=\"1525\" width=\"6.5\" height=\"6.5\" rx=\"1.4\" \/><rect x=\"171\" y=\"1513\" width=\"6.5\" height=\"6.5\" rx=\"1.4\" \/><rect x=\"171\" y=\"1525\" width=\"6.5\" height=\"6.5\" rx=\"1.4\" \/><\/g>\n<text x=\"206.0\" y=\"1516\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\">Three parts, one system<\/text>\n<rect x=\"206.0\" y=\"1528\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#6B7280\" \/>\n<text x=\"206.0\" y=\"1552\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The Brand Company, the Partners and the Capital Engine<\/text>\n<text x=\"164.0\" y=\"1585\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#1A1A1A\">Together the three parts form the Koykan Capital and Expansion Platform, Koykan’s programme for capital, partners and expansion.<\/text>\n<rect x=\"164.0\" y=\"1613\" width=\"310.7\" height=\"190.0\" rx=\"14\" ry=\"14\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<circle cx=\"319.33333333333337\" cy=\"1655\" r=\"20\" fill=\"#FFFFFF\" stroke=\"#534AB7\" stroke-width=\"1.2\" \/>\n<g fill=\"none\" stroke=\"#534AB7\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"319.33333333333337\" cy=\"1655\" r=\"6\" \/><line x1=\"325.3\" y1=\"1655\" x2=\"332.3\" y2=\"1655\" \/><line x1=\"321.2\" y1=\"1660.7\" x2=\"323.4\" y2=\"1667.4\" \/><line x1=\"314.5\" y1=\"1658.5\" x2=\"308.8\" y2=\"1662.6\" \/><line x1=\"314.5\" y1=\"1651.5\" x2=\"308.8\" y2=\"1647.4\" \/><line x1=\"321.2\" y1=\"1649.3\" x2=\"323.4\" y2=\"1642.6\" \/><\/g>\n<text x=\"319.3\" y=\"1703\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#26215C\" text-anchor=\"middle\">The Brand Company<\/text>\n<text x=\"319.3\" y=\"1729\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\" text-anchor=\"middle\">Owns the brand, the recipes<\/text>\n<text x=\"319.3\" y=\"1749\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\" text-anchor=\"middle\">and the operating system<\/text>\n<text x=\"319.3\" y=\"1769\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\" text-anchor=\"middle\">and sets the standards<\/text>\n<rect x=\"496.7\" y=\"1613\" width=\"310.7\" height=\"190.0\" rx=\"14\" ry=\"14\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.9\" \/>\n<circle cx=\"652.0\" cy=\"1655\" r=\"20\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.2\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"644.0\" cy=\"1649\" r=\"5\" \/><g transform=\"translate(0,80)\"><path d=\"M 636.0 1587.0 a 8 8 0 0 1 16 0\" \/><\/g><circle cx=\"660.0\" cy=\"1649\" r=\"5\" \/><g transform=\"translate(0,80)\"><path d=\"M 652.0 1587.0 a 8 8 0 0 1 16 0\" \/><\/g><\/g>\n<text x=\"652.0\" y=\"1703\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#04342C\" text-anchor=\"middle\">The Partners<\/text>\n<text x=\"652.0\" y=\"1729\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#085041\" text-anchor=\"middle\">Local operators who build<\/text>\n<text x=\"652.0\" y=\"1749\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#085041\" text-anchor=\"middle\">and run the restaurants<\/text>\n<text x=\"652.0\" y=\"1769\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#085041\" text-anchor=\"middle\">in their own regions<\/text>\n<rect x=\"829.3\" y=\"1613\" width=\"310.7\" height=\"190.0\" rx=\"14\" ry=\"14\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<circle cx=\"984.6666666666667\" cy=\"1655\" r=\"20\" fill=\"#FFFFFF\" stroke=\"#854F0B\" stroke-width=\"1.2\" \/>\n<g fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><ellipse cx=\"984.6666666666667\" cy=\"1648\" rx=\"13\" ry=\"5\" \/><g transform=\"translate(0,80)\"><path d=\"M 971.6666666666667 1568.0 v 8 a 13 5 0 0 0 26 0 v -8\" \/><\/g><g transform=\"translate(0,80)\"><path d=\"M 971.6666666666667 1574.0 a 13 5 0 0 0 26 0\" \/><\/g><\/g>\n<text x=\"984.7\" y=\"1703\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#412402\" text-anchor=\"middle\">The Capital Engine<\/text>\n<text x=\"984.7\" y=\"1729\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#633806\" text-anchor=\"middle\">Finances each build<\/text>\n<text x=\"984.7\" y=\"1749\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#633806\" text-anchor=\"middle\">and holds the proven<\/text>\n<text x=\"984.7\" y=\"1769\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#633806\" text-anchor=\"middle\">restaurants for the long term<\/text>\n<line x1=\"620.0\" y1=\"1837\" x2=\"620.0\" y2=\"1877\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"351.6\" y=\"1879\" width=\"536.8\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"377.6\" cy=\"1906\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"397.6\" y=\"1911\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The Brand Company sits at the centre of the whole system.<\/text>\n<line x1=\"620.0\" y1=\"1935\" x2=\"620.0\" y2=\"1975\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"2170\" x2=\"124.0\" y2=\"2170\" stroke=\"#534AB7\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"1977\" width=\"1056.0\" height=\"386.0\" rx=\"18\" ry=\"18\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"2023\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#534AB7\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#534AB7\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"168\" cy=\"2023\" r=\"6\" \/><line x1=\"174.0\" y1=\"2023\" x2=\"181.0\" y2=\"2023\" \/><line x1=\"169.9\" y1=\"2028.7\" x2=\"172.0\" y2=\"2035.4\" \/><line x1=\"163.1\" y1=\"2026.5\" x2=\"157.5\" y2=\"2030.6\" \/><line x1=\"163.1\" y1=\"2019.5\" x2=\"157.5\" y2=\"2015.4\" \/><line x1=\"169.9\" y1=\"2017.3\" x2=\"172.0\" y2=\"2010.6\" \/><\/g>\n<text x=\"206.0\" y=\"2017\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#26215C\">The Brand Company<\/text>\n<rect x=\"206.0\" y=\"2029\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#534AB7\" \/>\n<text x=\"206.0\" y=\"2053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Koykan TopCo, the company that owns the brand and the system<\/text>\n<text x=\"164.0\" y=\"2086\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Koykan TopCo holds the brand, the recipes, the operating model and standards, the kitchen technology,<\/text>\n<text x=\"164.0\" y=\"2111\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">the supply chain, the franchise platform and the digital backbone, and licenses them for a royalty fee.<\/text>\n<rect x=\"164.0\" y=\"2141\" width=\"372.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"1\" \/>\n<text x=\"188.0\" y=\"2181\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#26215C\">Koykan TopCo<\/text>\n<circle cx=\"191.0\" cy=\"2220.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"204.0\" y=\"2224\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#3C3489\">Owns the brand, the recipes and the system<\/text>\n<circle cx=\"191.0\" cy=\"2244.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"204.0\" y=\"2248\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#3C3489\">Sets the operating standards across the network<\/text>\n<circle cx=\"191.0\" cy=\"2268.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"204.0\" y=\"2272\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#3C3489\">Earns a royalty fee from each restaurant<\/text>\n<circle cx=\"191.0\" cy=\"2292.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"204.0\" y=\"2296\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#3C3489\">Keeps a part-ownership in the restaurants<\/text>\n<rect x=\"556.0\" y=\"2141\" width=\"184.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"648.0\" y=\"2177\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">Brand & standards<\/text>\n<line x1=\"578.0\" y1=\"2189\" x2=\"718.0\" y2=\"2189\" stroke=\"#534AB7\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"648.0\" y=\"2215\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Develops the brand,<\/text>\n<text x=\"648.0\" y=\"2235\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">the recipes and the<\/text>\n<text x=\"648.0\" y=\"2255\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">system, and sets the<\/text>\n<text x=\"648.0\" y=\"2275\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">standards<\/text>\n<rect x=\"756.0\" y=\"2141\" width=\"184.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"848.0\" y=\"2177\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">Fran\u0161\u00edza<\/text>\n<line x1=\"778.0\" y1=\"2189\" x2=\"918.0\" y2=\"2189\" stroke=\"#534AB7\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"848.0\" y=\"2215\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Finds and signs the<\/text>\n<text x=\"848.0\" y=\"2235\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">franchise Partners and<\/text>\n<text x=\"848.0\" y=\"2255\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">manages the agreements<\/text>\n<text x=\"848.0\" y=\"2275\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">and the brand<\/text>\n<rect x=\"956.0\" y=\"2141\" width=\"184.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"1048.0\" y=\"2177\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">Development<\/text>\n<line x1=\"978.0\" y1=\"2189\" x2=\"1118.0\" y2=\"2189\" stroke=\"#534AB7\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"1048.0\" y=\"2215\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Opens a few own<\/text>\n<text x=\"1048.0\" y=\"2235\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">restaurants to enter<\/text>\n<text x=\"1048.0\" y=\"2255\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">new markets and test;<\/text>\n<text x=\"1048.0\" y=\"2275\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">kept to a small share<\/text>\n<line x1=\"620.0\" y1=\"2365\" x2=\"620.0\" y2=\"2405\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"222.4\" y=\"2407\" width=\"795.2\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"248.40000000000003\" cy=\"2434\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"268.4\" y=\"2439\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The Brand Company sets the standard. Partners build and run the restaurants in each market.<\/text>\n<line x1=\"620.0\" y1=\"2463\" x2=\"620.0\" y2=\"2503\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"2748\" x2=\"124.0\" y2=\"2748\" stroke=\"#0F6E56\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"2505\" width=\"1056.0\" height=\"486.0\" rx=\"18\" ry=\"18\" fill=\"#F0FAF6\" stroke=\"#0F6E56\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"2551\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"160\" cy=\"2545\" r=\"5\" \/><g transform=\"translate(0,132)\"><path d=\"M 152 2431.0 a 8 8 0 0 1 16 0\" \/><\/g><circle cx=\"176\" cy=\"2545\" r=\"5\" \/><g transform=\"translate(0,132)\"><path d=\"M 168 2431.0 a 8 8 0 0 1 16 0\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"2545\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#04342C\">The Operating Partners<\/text>\n<rect x=\"206.0\" y=\"2557\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#0F6E56\" \/>\n<text x=\"206.0\" y=\"2581\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Experienced local operators who develop a defined area<\/text>\n<text x=\"164.0\" y=\"2614\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#1A1A1A\">Partners take a region and grow it under the Koykan brand. The operating profile is the same across the three configurations; they differ in how the<\/text>\n<text x=\"164.0\" y=\"2639\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#1A1A1A\">area is financed and how it is structured.<\/text>\n<rect x=\"164.0\" y=\"2669\" width=\"312.0\" height=\"208.0\" rx=\"14\" ry=\"14\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.7\" \/>\n<rect x=\"364.0\" y=\"2687\" width=\"94.0\" height=\"28.0\" rx=\"14\" ry=\"14\" fill=\"#0F6E56\" \/>\n<text x=\"411.0\" y=\"2706\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">preferred<\/text>\n<text x=\"188.0\" y=\"2727\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"28\" font-weight=\"500\" fill=\"#04342C\">AFP<\/text>\n<text x=\"188.0\" y=\"2751\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Area Franchise Partner<\/text>\n<circle cx=\"191.0\" cy=\"2794.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"204.0\" y=\"2798\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Funds their own area<\/text>\n<circle cx=\"191.0\" cy=\"2819.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"204.0\" y=\"2823\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Owns the restaurants<\/text>\n<circle cx=\"191.0\" cy=\"2844.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"204.0\" y=\"2848\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Holds area exclusivity<\/text>\n<rect x=\"496.0\" y=\"2669\" width=\"312.0\" height=\"208.0\" rx=\"14\" ry=\"14\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"520.0\" y=\"2727\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"28\" font-weight=\"500\" fill=\"#04342C\">AOP<\/text>\n<text x=\"520.0\" y=\"2751\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Area Operation Partner<\/text>\n<circle cx=\"523.0\" cy=\"2794.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"536.0\" y=\"2798\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Brings part of the capital<\/text>\n<circle cx=\"523.0\" cy=\"2819.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"536.0\" y=\"2823\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Capital Engine co-invests alongside<\/text>\n<circle cx=\"523.0\" cy=\"2844.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"536.0\" y=\"2848\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Earns equity by performing<\/text>\n<rect x=\"828.0\" y=\"2669\" width=\"312.0\" height=\"208.0\" rx=\"14\" ry=\"14\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"852.0\" y=\"2727\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"28\" font-weight=\"500\" fill=\"#04342C\">MFP<\/text>\n<text x=\"852.0\" y=\"2751\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Master Franchise Partner<\/text>\n<circle cx=\"855.0\" cy=\"2794.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"868.0\" y=\"2798\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Takes a country or region<\/text>\n<circle cx=\"855.0\" cy=\"2819.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"868.0\" y=\"2823\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Used where it is the norm<\/text>\n<circle cx=\"855.0\" cy=\"2844.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"868.0\" y=\"2848\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Runs a sub-franchise network<\/text>\n<rect x=\"164.0\" y=\"2895\" width=\"976.0\" height=\"64.0\" rx=\"10\" ry=\"10\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.9\" \/>\n<text x=\"186.0\" y=\"2922\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"500\" fill=\"#04342C\">Koykan opens a small number of its own restaurants to establish a new market, then hands growth to partners.<\/text>\n<text x=\"186.0\" y=\"2943\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"500\" fill=\"#04342C\">Corporate restaurants stay a small share of the network.<\/text>\n<line x1=\"620.0\" y1=\"2993\" x2=\"620.0\" y2=\"3033\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"214.8\" y=\"3035\" width=\"810.4\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"240.8\" cy=\"3062\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"260.8\" y=\"3067\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Each restaurant needs capital to build. The Capital Engine provides it through four pillars.<\/text>\n<line x1=\"620.0\" y1=\"3091\" x2=\"620.0\" y2=\"3131\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"3451\" x2=\"124.0\" y2=\"3451\" stroke=\"#854F0B\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"3133\" width=\"1056.0\" height=\"636.0\" rx=\"18\" ry=\"18\" fill=\"#FDF8EE\" stroke=\"#854F0B\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"3179\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#854F0B\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><ellipse cx=\"168\" cy=\"3172\" rx=\"13\" ry=\"5\" \/><g transform=\"translate(0,158)\"><path d=\"M 155 3014.0 v 8 a 13 5 0 0 0 26 0 v -8\" \/><\/g><g transform=\"translate(0,158)\"><path d=\"M 155 3020.0 a 13 5 0 0 0 26 0\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"3173\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#412402\">The Capital Engine<\/text>\n<rect x=\"206.0\" y=\"3185\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#854F0B\" \/>\n<text x=\"206.0\" y=\"3209\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Four pillars of capital – two back the company and two finance individual restaurants<\/text>\n<text x=\"164.0\" y=\"3242\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">The Capital Engine brings capital into the system through four pillars, each with its own instruments, timing and type of investor.<\/text>\n<text x=\"164.0\" y=\"3267\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Two pillars back Koykan as a whole and two finance and hold individual restaurants.<\/text>\n<rect x=\"164.0\" y=\"3295\" width=\"976.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"3295\" width=\"7.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#534AB7\" \/>\n<text x=\"190.0\" y=\"3333\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#534AB7\">Equity<\/text>\n<text x=\"190.0\" y=\"3361\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"500\" fill=\"#26215C\">A share of TopCo<\/text>\n<text x=\"399.0\" y=\"3329\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">How it works<\/text>\n<text x=\"399.0\" y=\"3349\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">A direct share in the Koykan brand, the<\/text>\n<text x=\"399.0\" y=\"3367\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">franchise network and the royalty stream.<\/text>\n<text x=\"824.0\" y=\"3329\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">Who it is for<\/text>\n<text x=\"824.0\" y=\"3349\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Long-term investors backing the company as a whole<\/text>\n<rect x=\"164.0\" y=\"3409\" width=\"976.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#FDF8EE\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"3409\" width=\"7.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#854F0B\" \/>\n<text x=\"190.0\" y=\"3447\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#854F0B\">Growth<\/text>\n<text x=\"190.0\" y=\"3475\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"500\" fill=\"#412402\">Capital for new restaurants<\/text>\n<text x=\"399.0\" y=\"3443\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">How it works<\/text>\n<text x=\"399.0\" y=\"3463\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Funds a batch of new restaurants and shares in the value<\/text>\n<text x=\"399.0\" y=\"3481\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">created as they open and reach steady performance.<\/text>\n<text x=\"824.0\" y=\"3443\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">Who it is for<\/text>\n<text x=\"824.0\" y=\"3463\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Investors seeking development<\/text>\n<text x=\"824.0\" y=\"3481\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">upside over a defined period<\/text>\n<rect x=\"164.0\" y=\"3523\" width=\"976.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#FDF1F5\" stroke=\"#993556\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"3523\" width=\"7.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#993556\" \/>\n<text x=\"190.0\" y=\"3561\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#993556\">Yield<\/text>\n<text x=\"190.0\" y=\"3589\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"500\" fill=\"#72243E\">A share of proven restaurants<\/text>\n<text x=\"399.0\" y=\"3557\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">How it works<\/text>\n<text x=\"399.0\" y=\"3577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Holds a share of restaurants that already<\/text>\n<text x=\"399.0\" y=\"3595\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">perform and receives the cash they produce.<\/text>\n<text x=\"824.0\" y=\"3557\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">Who it is for<\/text>\n<text x=\"824.0\" y=\"3577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Investors seeking steady, recurring income<\/text>\n<rect x=\"164.0\" y=\"3637\" width=\"976.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#FAFAF8\" stroke=\"#5F5E5A\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"3637\" width=\"7.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#5F5E5A\" \/>\n<text x=\"190.0\" y=\"3675\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#5F5E5A\">Bonds<\/text>\n<text x=\"190.0\" y=\"3703\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"500\" fill=\"#1A1A1A\">Lending at a fixed return<\/text>\n<text x=\"399.0\" y=\"3671\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">How it works<\/text>\n<text x=\"399.0\" y=\"3691\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Lends to Koykan and receives interest, with<\/text>\n<text x=\"399.0\" y=\"3709\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">the principal repaid at the end of the term.<\/text>\n<text x=\"824.0\" y=\"3671\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">Who it is for<\/text>\n<text x=\"824.0\" y=\"3691\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Investors who prefer a fixed return over a set term<\/text>\n<line x1=\"620.0\" y1=\"3771\" x2=\"620.0\" y2=\"3811\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"344.0\" y=\"3813\" width=\"552.0\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"370.0\" cy=\"3840\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"390.0\" y=\"3845\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">These pillars meet in the path that each restaurant follows.<\/text>\n<line x1=\"620.0\" y1=\"3869\" x2=\"620.0\" y2=\"3909\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"4093\" x2=\"124.0\" y2=\"4093\" stroke=\"#6B7280\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"3911\" width=\"1056.0\" height=\"364.0\" rx=\"18\" ry=\"18\" fill=\"#FAFAF8\" stroke=\"#6B7280\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"3957\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#6B7280\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#6B7280\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,184)\"><path d=\"M 155 3784.0 q 6 -22 13 -11 q 7 11 13 -11\" \/><\/g><circle cx=\"155\" cy=\"3968\" r=\"2.4\" fill=\"#6B7280\" \/><circle cx=\"181\" cy=\"3946\" r=\"2.4\" fill=\"#6B7280\" \/><\/g>\n<text x=\"206.0\" y=\"3951\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\">How a restaurant moves through the system<\/text>\n<rect x=\"206.0\" y=\"3963\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#6B7280\" \/>\n<text x=\"206.0\" y=\"3987\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">From the first day to a proven business<\/text>\n<rect x=\"164.0\" y=\"4011\" width=\"214.0\" height=\"164.0\" rx=\"14\" ry=\"14\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<text x=\"271.0\" y=\"4053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#26215C\" text-anchor=\"middle\">1. The brand<\/text>\n<line x1=\"186.0\" y1=\"4065\" x2=\"356.0\" y2=\"4065\" stroke=\"#534AB7\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"271.0\" y=\"4095\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#26215C\" text-anchor=\"middle\">TopCo licenses the name,<\/text>\n<text x=\"271.0\" y=\"4117\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#26215C\" text-anchor=\"middle\">recipes and system<\/text>\n<text x=\"271.0\" y=\"4139\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#26215C\" text-anchor=\"middle\">for a royalty fee<\/text>\n<line x1=\"385.0\" y1=\"4093\" x2=\"411.0\" y2=\"4093\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"418.0\" y=\"4011\" width=\"214.0\" height=\"164.0\" rx=\"14\" ry=\"14\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<text x=\"525.0\" y=\"4053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#412402\" text-anchor=\"middle\">2. The build<\/text>\n<line x1=\"440.0\" y1=\"4065\" x2=\"610.0\" y2=\"4065\" stroke=\"#854F0B\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"525.0\" y=\"4095\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#412402\" text-anchor=\"middle\">Growth capital or the<\/text>\n<text x=\"525.0\" y=\"4117\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#412402\" text-anchor=\"middle\">partner funds the<\/text>\n<text x=\"525.0\" y=\"4139\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#412402\" text-anchor=\"middle\">build-out<\/text>\n<line x1=\"639.0\" y1=\"4093\" x2=\"665.0\" y2=\"4093\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"672.0\" y=\"4011\" width=\"214.0\" height=\"164.0\" rx=\"14\" ry=\"14\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.9\" \/>\n<text x=\"779.0\" y=\"4053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#04342C\" text-anchor=\"middle\">3. The opening<\/text>\n<line x1=\"694.0\" y1=\"4065\" x2=\"864.0\" y2=\"4065\" stroke=\"#0F6E56\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"779.0\" y=\"4095\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#04342C\" text-anchor=\"middle\">The partner runs it;<\/text>\n<text x=\"779.0\" y=\"4117\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#04342C\" text-anchor=\"middle\">revenue and profit<\/text>\n<text x=\"779.0\" y=\"4139\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#04342C\" text-anchor=\"middle\">settle over the months<\/text>\n<line x1=\"893.0\" y1=\"4093\" x2=\"919.0\" y2=\"4093\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"926.0\" y=\"4011\" width=\"214.0\" height=\"164.0\" rx=\"14\" ry=\"14\" fill=\"#FBEAF0\" stroke=\"#993556\" stroke-width=\"0.9\" \/>\n<text x=\"1033.0\" y=\"4053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#72243E\" text-anchor=\"middle\">4. Steady state<\/text>\n<line x1=\"948.0\" y1=\"4065\" x2=\"1118.0\" y2=\"4065\" stroke=\"#993556\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"1033.0\" y=\"4095\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#72243E\" text-anchor=\"middle\">Once it is steady it<\/text>\n<text x=\"1033.0\" y=\"4117\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#72243E\" text-anchor=\"middle\">moves to the yield pillar<\/text>\n<text x=\"1033.0\" y=\"4139\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#72243E\" text-anchor=\"middle\">or is sold to a partner<\/text>\n<text x=\"164.0\" y=\"4209\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#5F5E5A\">Each restaurant is a separate company. The brand, the build capital and the local operator<\/text>\n<text x=\"164.0\" y=\"4233\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#5F5E5A\">each play their defined part as it moves from opening to a proven business.<\/text>\n<line x1=\"620.0\" y1=\"4277\" x2=\"620.0\" y2=\"4317\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"298.4\" y=\"4319\" width=\"643.2\" height=\"76.0\" rx=\"16\" ry=\"16\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"324.40000000000003\" cy=\"4357\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"344.4\" y=\"4351\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">As each restaurant reaches steady performance and moves to the<\/text>\n<text x=\"344.4\" y=\"4373\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">yield side, the capital that built it returns to finance the next batch.<\/text>\n<line x1=\"620.0\" y1=\"4397\" x2=\"620.0\" y2=\"4437\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"4819\" x2=\"124.0\" y2=\"4819\" stroke=\"#854F0B\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"4439\" width=\"1056.0\" height=\"760.0\" rx=\"18\" ry=\"18\" fill=\"#FDF8EE\" stroke=\"#854F0B\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"4485\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#854F0B\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,210)\"><path d=\"M 157 4273.0 A 11 11 0 0 1 179 4273.0\" \/><\/g><g transform=\"translate(0,210)\"><path d=\"M 175 4269.0 L 182 4273.0 L 175 4277.0 Z\" fill=\"#854F0B\" stroke=\"none\" \/><\/g><g transform=\"translate(0,210)\"><path d=\"M 179 4277.0 A 11 11 0 0 1 157 4277.0\" \/><\/g><g transform=\"translate(0,210)\"><path d=\"M 161 4281.0 L 154 4277.0 L 161 4273.0 Z\" fill=\"#854F0B\" stroke=\"none\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"4479\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#412402\">The capital cycle<\/text>\n<rect x=\"206.0\" y=\"4491\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#854F0B\" \/>\n<text x=\"206.0\" y=\"4515\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Each completed restaurant funds the next<\/text>\n<circle cx=\"620.0\" cy=\"4826\" r=\"152.5\" fill=\"none\" stroke=\"#8B897F\" stroke-width=\"0.6\" stroke-dasharray=\"3 8\" opacity=\"0.28\" \/>\n<circle cx=\"620.0\" cy=\"4826\" r=\"92\" fill=\"#FFFFFF\" stroke=\"#854F0B\" stroke-width=\"1.2\" \/>\n<text x=\"620.0\" y=\"4820\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"22\" font-weight=\"500\" fill=\"#854F0B\" text-anchor=\"middle\">The cycle<\/text>\n<text x=\"620.0\" y=\"4846\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#633806\" text-anchor=\"middle\">larger each turn<\/text>\n<g transform=\"translate(0,210)\"><path d=\"M 687.9 4463.4 A 167.0 167.0 0 0 1 772.6 4548.1\" fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.8\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<\/g><g transform=\"translate(0,210)\"><path d=\"M 772.6 4683.9 A 167.0 167.0 0 0 1 687.9 4768.6\" fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.8\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<\/g><g transform=\"translate(0,210)\"><path d=\"M 552.1 4768.6 A 167.0 167.0 0 0 1 467.4 4683.9\" fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.8\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<\/g><g transform=\"translate(0,210)\"><path d=\"M 467.4 4548.1 A 167.0 167.0 0 0 1 552.1 4463.4\" fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.8\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<\/g><rect x=\"498.0\" y=\"4555\" width=\"244.0\" height=\"78.0\" rx=\"16\" ry=\"16\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.85\" \/>\n<text x=\"620.0\" y=\"4590\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#412402\" text-anchor=\"middle\">Build<\/text>\n<text x=\"620.0\" y=\"4614\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#412402\" text-anchor=\"middle\">finance new restaurants<\/text>\n<rect x=\"730.0\" y=\"4787\" width=\"244.0\" height=\"78.0\" rx=\"16\" ry=\"16\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.85\" \/>\n<text x=\"852.0\" y=\"4822\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#04342C\" text-anchor=\"middle\">Prove<\/text>\n<text x=\"852.0\" y=\"4846\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#04342C\" text-anchor=\"middle\">reach steady profit<\/text>\n<rect x=\"498.0\" y=\"5019\" width=\"244.0\" height=\"78.0\" rx=\"16\" ry=\"16\" fill=\"#FBEAF0\" stroke=\"#993556\" stroke-width=\"0.85\" \/>\n<text x=\"620.0\" y=\"5054\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#72243E\" text-anchor=\"middle\">Transfer<\/text>\n<text x=\"620.0\" y=\"5078\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#72243E\" text-anchor=\"middle\">into the yield side<\/text>\n<rect x=\"266.0\" y=\"4787\" width=\"244.0\" height=\"78.0\" rx=\"16\" ry=\"16\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.85\" \/>\n<text x=\"388.0\" y=\"4822\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#26215C\" text-anchor=\"middle\">Return<\/text>\n<text x=\"388.0\" y=\"4846\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#26215C\" text-anchor=\"middle\">capital funds the next batch<\/text>\n<rect x=\"164.0\" y=\"5121\" width=\"976.0\" height=\"46.0\" rx=\"10\" ry=\"10\" fill=\"#FFFFFF\" stroke=\"#8B6914\" stroke-width=\"1.1\" \/>\n<text x=\"184.0\" y=\"5150\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.2\" font-weight=\"500\" fill=\"#1A1A1A\">When a restaurant moves to the yield side, the way the transfer is structured keeps most of the value created in development intact.<\/text>\n<line x1=\"620.0\" y1=\"5201\" x2=\"620.0\" y2=\"5241\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"438.7\" y=\"5243\" width=\"362.7\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"464.7\" cy=\"5270\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"484.7\" y=\"5275\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The cycle suits two different types of investor.<\/text>\n<line x1=\"620.0\" y1=\"5299\" x2=\"620.0\" y2=\"5339\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"5512\" x2=\"124.0\" y2=\"5512\" stroke=\"#6B7280\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"5341\" width=\"1056.0\" height=\"342.0\" rx=\"18\" ry=\"18\" fill=\"#FAFAF8\" stroke=\"#6B7280\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"5387\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#6B7280\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#6B7280\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"168\" cy=\"5390\" r=\"11\" \/><g transform=\"translate(0,236)\"><path d=\"M 168 5159.0 v -10 M 164 5147.0 l 4 -4 4 4\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"5381\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\">What growth and yield investors can earn<\/text>\n<rect x=\"206.0\" y=\"5393\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#6B7280\" \/>\n<text x=\"206.0\" y=\"5417\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The two positions the capital cycle creates for investors<\/text>\n<text x=\"164.0\" y=\"5450\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The growth and yield pillars suit different investors.<\/text>\n<text x=\"164.0\" y=\"5475\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Some prefer the higher upside of building new restaurants; others prefer the steadier income of proven ones.<\/text>\n<rect x=\"164.0\" y=\"5499\" width=\"477.0\" height=\"152.0\" rx=\"14\" ry=\"14\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<text x=\"188.0\" y=\"5539\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#412402\">Growth investors<\/text>\n<text x=\"188.0\" y=\"5563\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#633806\">Back new restaurants and share the upside<\/text>\n<text x=\"188.0\" y=\"5603\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#854F0B\">Higher upside<\/text>\n<text x=\"188.0\" y=\"5627\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#633806\">from building and stabilising new restaurants over a defined period<\/text>\n<rect x=\"663.0\" y=\"5499\" width=\"477.0\" height=\"152.0\" rx=\"14\" ry=\"14\" fill=\"#FBEAF0\" stroke=\"#993556\" stroke-width=\"0.9\" \/>\n<text x=\"687.0\" y=\"5539\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#72243E\">Yield investors<\/text>\n<text x=\"687.0\" y=\"5563\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#993556\">Hold proven restaurants and receive the income<\/text>\n<text x=\"687.0\" y=\"5603\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#993556\">Steady income<\/text>\n<text x=\"687.0\" y=\"5627\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#72243E\">recurring cash from restaurants that already perform<\/text>\n<line x1=\"620.0\" y1=\"5685\" x2=\"620.0\" y2=\"5725\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"279.4\" y=\"5727\" width=\"681.2\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"305.40000000000003\" cy=\"5754\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"325.4\" y=\"5759\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Repeated across many restaurants and markets, this builds a European network.<\/text>\n<line x1=\"620.0\" y1=\"5783\" x2=\"620.0\" y2=\"5823\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"6026.5\" x2=\"124.0\" y2=\"6026.5\" stroke=\"#0F6E56\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"5825\" width=\"1056.0\" height=\"403.0\" rx=\"18\" ry=\"18\" fill=\"#F0FAF6\" stroke=\"#0F6E56\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"5871\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,262)\"><path d=\"M 155 5621.0 h 26 M 155 5621.0 v -22\" \/><\/g><rect x=\"159\" y=\"5875\" width=\"6\" height=\"8\" \/><rect x=\"167\" y=\"5868\" width=\"6\" height=\"15\" \/><rect x=\"175\" y=\"5862\" width=\"6\" height=\"21\" \/><\/g>\n<text x=\"206.0\" y=\"5865\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#04342C\">How we grow<\/text>\n<rect x=\"206.0\" y=\"5877\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#0F6E56\" \/>\n<text x=\"206.0\" y=\"5901\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">From nine restaurants to a European network<\/text>\n<text x=\"164.0\" y=\"5934\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Growth comes from adding new partners each year, each opening a steady stream of restaurants, with a small number of corporate openings on top.<\/text>\n<line x1=\"164.0\" y1=\"6138\" x2=\"1140.0\" y2=\"6138\" stroke=\"#E8E6DE\" stroke-width=\"1.4\" stroke-linecap=\"round\" \/>\n<rect x=\"244.0\" y=\"6126\" width=\"84.0\" height=\"12.0\" rx=\"5\" ry=\"5\" fill=\"#0F6E56\" \/>\n<text x=\"286.0\" y=\"6112\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">9<\/text>\n<text x=\"286.0\" y=\"6166\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">2026<\/text>\n<text x=\"286.0\" y=\"6186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#8B897F\" text-anchor=\"middle\">in operation<\/text>\n<rect x=\"488.0\" y=\"6110.5\" width=\"84.0\" height=\"27.5\" rx=\"5\" ry=\"5\" fill=\"#854F0B\" \/>\n<text x=\"530.0\" y=\"6096.5\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">145<\/text>\n<text x=\"530.0\" y=\"6166\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">2030<\/text>\n<text x=\"530.0\" y=\"6186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#8B897F\" text-anchor=\"middle\">target<\/text>\n<rect x=\"732.0\" y=\"6081\" width=\"84.0\" height=\"57.0\" rx=\"5\" ry=\"5\" fill=\"#854F0B\" \/>\n<text x=\"774.0\" y=\"6067\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">300<\/text>\n<text x=\"774.0\" y=\"6166\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">2032<\/text>\n<text x=\"774.0\" y=\"6186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#8B897F\" text-anchor=\"middle\">target<\/text>\n<rect x=\"976.0\" y=\"5988\" width=\"84.0\" height=\"150.0\" rx=\"5\" ry=\"5\" fill=\"#854F0B\" \/>\n<text x=\"1018.0\" y=\"5974\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">790<\/text>\n<text x=\"1018.0\" y=\"6166\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">2036<\/text>\n<text x=\"1018.0\" y=\"6186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#8B897F\" text-anchor=\"middle\">target<\/text>\n<line x1=\"620.0\" y1=\"6230\" x2=\"620.0\" y2=\"6270\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"332.6\" y=\"6272\" width=\"574.8\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"358.6\" cy=\"6299\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"378.6\" y=\"6304\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The capital that supports this growth arrives in defined steps.<\/text>\n<line x1=\"620.0\" y1=\"6328\" x2=\"620.0\" y2=\"6368\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"6563\" x2=\"124.0\" y2=\"6563\" stroke=\"#534AB7\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"6370\" width=\"1056.0\" height=\"386.0\" rx=\"18\" ry=\"18\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"6416\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#534AB7\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#534AB7\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,288)\"><path d=\"M 159 6141.0 v -26\" \/><\/g><g transform=\"translate(0,288)\"><path d=\"M 159 6116.0 h 18 l -4 5 l 4 5 h -18 z\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"6410\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#26215C\">The capital journey<\/text>\n<rect x=\"206.0\" y=\"6422\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#534AB7\" \/>\n<text x=\"206.0\" y=\"6446\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">How investment in Koykan TopCo, the company that owns the brand, grows over time<\/text>\n<text x=\"164.0\" y=\"6479\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Investment in Koykan TopCo, the company that owns the brand and the system, arrives in defined steps.<\/text>\n<text x=\"164.0\" y=\"6504\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Each step brings in larger investors at a higher value as the network grows.<\/text>\n<rect x=\"164.0\" y=\"6530\" width=\"289.3\" height=\"112.0\" rx=\"14\" ry=\"14\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<text x=\"308.7\" y=\"6574\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#26215C\" text-anchor=\"middle\">Strategic round<\/text>\n<text x=\"308.7\" y=\"6600\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Committed backers take<\/text>\n<text x=\"308.7\" y=\"6618\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">a stake in the company<\/text>\n<line x1=\"463.3\" y1=\"6586\" x2=\"497.3\" y2=\"6586\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"507.3\" y=\"6530\" width=\"289.3\" height=\"112.0\" rx=\"14\" ry=\"14\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<text x=\"652.0\" y=\"6574\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#412402\" text-anchor=\"middle\">Private equity<\/text>\n<text x=\"652.0\" y=\"6600\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">A larger investor enters<\/text>\n<text x=\"652.0\" y=\"6618\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">later, at a higher value<\/text>\n<line x1=\"806.7\" y1=\"6586\" x2=\"840.7\" y2=\"6586\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"850.7\" y=\"6530\" width=\"289.3\" height=\"112.0\" rx=\"14\" ry=\"14\" fill=\"#FBEAF0\" stroke=\"#993556\" stroke-width=\"0.9\" \/>\n<text x=\"995.3\" y=\"6574\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#72243E\" text-anchor=\"middle\">Public listing<\/text>\n<text x=\"995.3\" y=\"6600\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">The long-term destination as<\/text>\n<text x=\"995.3\" y=\"6618\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">the network matures<\/text>\n<rect x=\"164.0\" y=\"6660\" width=\"976.0\" height=\"64.0\" rx=\"10\" ry=\"10\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"184.0\" y=\"6687\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.2\" font-weight=\"500\" fill=\"#1A1A1A\">Koykan grew its first restaurants with the help of bondholders – investors who lent the company money through bonds.<\/text>\n<text x=\"184.0\" y=\"6707\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.2\" font-weight=\"500\" fill=\"#1A1A1A\">As those bonds come due, each bondholder can move into the equity, growth or yield pillars instead of simply being repaid.<\/text>\n<line x1=\"620.0\" y1=\"6758\" x2=\"620.0\" y2=\"6798\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"294.6\" y=\"6800\" width=\"650.8\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"320.6\" cy=\"6827\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"340.6\" y=\"6832\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Koykan’s reach extends across Europe and into selected markets beyond it.<\/text>\n<line x1=\"620.0\" y1=\"6856\" x2=\"620.0\" y2=\"6896\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"7102\" x2=\"124.0\" y2=\"7102\" stroke=\"#0F6E56\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"6898\" width=\"1056.0\" height=\"408.0\" rx=\"18\" ry=\"18\" fill=\"#F0FAF6\" stroke=\"#0F6E56\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"6944\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,314)\"><path d=\"M 168 6643.0 c -8 -10 -10 -14 -10 -19 a 10 10 0 0 1 20 0 c 0 5 -2 9 -10 19 z\" \/><\/g><circle cx=\"168\" cy=\"6938\" r=\"3.5\" \/><\/g>\n<text x=\"206.0\" y=\"6938\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#04342C\">Where we go<\/text>\n<rect x=\"206.0\" y=\"6950\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#0F6E56\" \/>\n<text x=\"206.0\" y=\"6974\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The European Union, then selected markets beyond<\/text>\n<rect x=\"164.0\" y=\"6994\" width=\"976.0\" height=\"190.0\" rx=\"12\" 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font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Croatia<\/text>\n<text x=\"188.0\" y=\"7152\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12\" font-weight=\"500\" fill=\"#5F5E5A\">Neighbouring markets<\/text>\n<rect x=\"319.0\" y=\"7132\" width=\"83.4\" height=\"30\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1\" stroke-dasharray=\"3 3\" \/>\n<text x=\"360.7\" y=\"7152\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Austria<\/text>\n<rect x=\"414.4\" y=\"7132\" width=\"83.4\" height=\"30\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1\" stroke-dasharray=\"3 3\" \/>\n<text x=\"456.1\" y=\"7152\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Hungary<\/text>\n<text x=\"164.0\" y=\"7228\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"500\" fill=\"#26215C\">Plus selected markets beyond the EU, each entered on its own terms:<\/text>\n<rect x=\"164.0\" y=\"7244\" width=\"140.8\" height=\"38\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"234.4\" y=\"7269\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">United Kingdom<\/text>\n<rect x=\"316.8\" y=\"7244\" width=\"116.2\" height=\"38\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"374.9\" y=\"7269\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Switzerland<\/text>\n<rect x=\"445.0\" y=\"7244\" width=\"75.2\" height=\"38\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"482.6\" y=\"7269\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Norway<\/text>\n<rect x=\"532.2\" y=\"7244\" width=\"83.4\" height=\"38\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"573.9\" y=\"7269\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Ukraine<\/text>\n<rect x=\"627.6\" y=\"7244\" width=\"75.2\" height=\"38\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"665.2\" y=\"7269\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Serbia<\/text>\n<rect x=\"714.8\" y=\"7244\" width=\"83.4\" height=\"38\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"756.5\" y=\"7269\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Albania<\/text>\n<rect x=\"810.2\" y=\"7244\" width=\"116.2\" height=\"38\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"868.3\" y=\"7269\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Middle East<\/text>\n<rect x=\"124.0\" y=\"7370\" width=\"1056.0\" height=\"140.0\" rx=\"18\" ry=\"18\" fill=\"#1A1A1A\" \/>\n<text x=\"620.0\" y=\"7420\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"22\" font-weight=\"500\" fill=\"#E3BC52\" letter-spacing=\"1.5\" text-anchor=\"middle\">In one line<\/text>\n<text x=\"620.0\" y=\"7460\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">Koykan owns the brand and the system, partners build and run the restaurants and the capital<\/text>\n<text x=\"620.0\" y=\"7490\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">that builds each restaurant returns to finance the next.<\/text>\n<line x1=\"70.0\" y1=\"470.5\" x2=\"70.0\" y2=\"7102\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"2 8\" opacity=\"0.4\" \/>\n<circle cx=\"70\" cy=\"470.5\" r=\"17\" fill=\"#0F6E56\" \/>\n<text x=\"70.0\" y=\"476.5\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">1<\/text>\n<circle cx=\"70\" cy=\"1073.5\" r=\"17\" fill=\"#534AB7\" \/>\n<text x=\"70.0\" y=\"1079.5\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#FFFFFF\" 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text-anchor=\"middle\">10<\/text>\n<circle cx=\"70\" cy=\"6563\" r=\"17\" fill=\"#534AB7\" \/>\n<text x=\"70.0\" y=\"6569\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">11<\/text>\n<circle cx=\"70\" cy=\"7102\" r=\"17\" fill=\"#0F6E56\" \/>\n<text x=\"70.0\" y=\"7108\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">12<\/text>\n<line x1=\"124.0\" y1=\"7566\" x2=\"1180.0\" y2=\"7566\" stroke=\"#E8E6DE\" stroke-width=\"1.4\" stroke-linecap=\"round\" \/>\n<text x=\"124.0\" y=\"7598\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#8B6914\">Koykan Capital and Expansion Platform<\/text>\n<text x=\"124.0\" y=\"7621\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#5F5E5A\">Company and model overview – who we are, what we do and how we grow<\/text>\n<text x=\"1180.0\" y=\"7598\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"end\">koykan – stay hungry for more<\/text>\n<\/svg><\/div>\n<\/body>\n<\/html>","protected":false},"excerpt":{"rendered":"<p>Koykan – Company & Model Overview koykan – looking forward, 2026 and beyond Koykan – company & model overview A European street-food brand that grows through local partners and a coordinated capital structure Who we are, what we do and how we grow stay hungry for more Who we are A proven operating system across 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{"id":7655,"date":"2026-06-16T15:06:59","date_gmt":"2026-06-16T13:06:59","guid":{"rendered":"https:\/\/koykan.com\/?page_id=7655"},"modified":"2026-06-16T15:07:00","modified_gmt":"2026-06-16T13:07:00","slug":"koykan-company-model-overview","status":"publish","type":"page","link":"https:\/\/koykan.com\/cs\/koykan-company-model-overview\/","title":{"rendered":"Koykan – Company & Model Overview"},"content":{"rendered":"\n\n\n\n\nKoykan – Company & Model Overview<\/title>\n<style>\n html,body{margin:0;padding:0;background:#FFFFFF;}\n .wrap{width:100%;max-width:1240px;margin:0 auto;}\n .wrap svg{display:block;width:100%;height:auto;}\n @media print{ @page{ size:1240px 7656px; margin:0; } body{margin:0;} }\n<\/style>\n<\/head>\n<body>\n<div class=\"wrap\">\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 1240 7656\" width=\"1240\" height=\"7656\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\">\n<defs>\n<marker id=\"aAmb\" viewbox=\"0 0 10 10\" refx=\"8\" 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structure<\/text>\n<text x=\"120.0\" y=\"210\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#a59f92\">Who we are, what we do and how we grow<\/text>\n<text x=\"120.0\" y=\"232\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#7d7768\" letter-spacing=\"3\">stay hungry for more<\/text>\n<g transform=\"translate(0,0)\"><polyline points=\"1040,94.0 1064,120.0 1040,146.0\" fill=\"none\" stroke=\"#8B6914\" stroke-width=\"7\" stroke-linecap=\"round\" stroke-linejoin=\"round\" opacity=\"0.30\" \/>\n<\/g><g transform=\"translate(0,0)\"><polyline points=\"1082,94.0 1106,120.0 1082,146.0\" fill=\"none\" stroke=\"#8B6914\" stroke-width=\"7\" stroke-linecap=\"round\" stroke-linejoin=\"round\" opacity=\"0.60\" \/>\n<\/g><g transform=\"translate(0,0)\"><polyline points=\"1124,94.0 1148,120.0 1124,146.0\" fill=\"none\" stroke=\"#8B6914\" stroke-width=\"7\" stroke-linecap=\"round\" stroke-linejoin=\"round\" opacity=\"0.90\" \/>\n<\/g><line x1=\"92.0\" y1=\"470.5\" x2=\"124.0\" y2=\"470.5\" stroke=\"#0F6E56\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"292\" width=\"1056.0\" height=\"357.0\" rx=\"18\" ry=\"18\" fill=\"#F0FAF6\" stroke=\"#0F6E56\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"338\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,28)\"><path d=\"M 153 308.0 v 15 h 30 v -15\" \/><\/g><g transform=\"translate(0,28)\"><path d=\"M 151 302.0 l 4 -8 h 26 l 4 8 z\" \/><\/g><g transform=\"translate(0,28)\"><path d=\"M 164 323.0 v -9 h 8 v 9\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"332\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#04342C\">Who we are<\/text>\n<rect x=\"206.0\" y=\"344\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#0F6E56\" \/>\n<text x=\"206.0\" y=\"368\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">A proven operating system across four European markets<\/text>\n<text x=\"164.0\" y=\"401\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Koykan runs fresh street-food restaurants in shopping-mall and high foot traffic locations across four European markets.<\/text>\n<text x=\"164.0\" y=\"435\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Each kitchen follows the same standard and the menu performs consistently across borders.<\/text>\n<text x=\"164.0\" y=\"469\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Behind the restaurants sits a complete system: a defined operating model, a franchise framework, a supply chain and digital infrastructure.<\/text>\n<rect x=\"164.0\" y=\"501\" width=\"229.0\" height=\"116.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"278.5\" y=\"551\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"27\" font-weight=\"500\" fill=\"#0F6E56\" text-anchor=\"middle\">10<\/text>\n<text x=\"278.5\" y=\"577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">restaurants<\/text>\n<text x=\"278.5\" y=\"596\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">9 open, 1 being built<\/text>\n<rect x=\"413.0\" y=\"501\" width=\"229.0\" height=\"116.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"527.5\" y=\"551\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"18\" font-weight=\"500\" fill=\"#0F6E56\" text-anchor=\"middle\">4 EU markets<\/text>\n<text x=\"527.5\" y=\"577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Germany, Czechia,<\/text>\n<text x=\"527.5\" y=\"596\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Slovakia, Croatia<\/text>\n<rect x=\"662.0\" y=\"501\" width=\"229.0\" height=\"116.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"776.5\" y=\"551\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#854F0B\" text-anchor=\"middle\">Proven<\/text>\n<text x=\"776.5\" y=\"577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">unit economics<\/text>\n<text x=\"776.5\" y=\"596\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">per restaurant<\/text>\n<rect x=\"911.0\" y=\"501\" width=\"229.0\" height=\"116.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"1025.5\" y=\"551\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#534AB7\" text-anchor=\"middle\">Profitable<\/text>\n<text x=\"1025.5\" y=\"577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">at the restaurant<\/text>\n<text x=\"1025.5\" y=\"596\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">level today<\/text>\n<line x1=\"620.0\" y1=\"651\" x2=\"620.0\" y2=\"691\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"363.0\" y=\"693\" width=\"514.0\" height=\"76.0\" rx=\"16\" ry=\"16\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"389.0\" cy=\"731\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"409.0\" y=\"725\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Koykan’s strength is the system behind the restaurants.<\/text>\n<text x=\"409.0\" y=\"747\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The next sections show how that system fits together.<\/text>\n<line x1=\"620.0\" y1=\"771\" x2=\"620.0\" y2=\"811\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"1073.5\" x2=\"124.0\" y2=\"1073.5\" stroke=\"#534AB7\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"813\" width=\"1056.0\" height=\"521.0\" rx=\"18\" ry=\"18\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"859\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#534AB7\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#534AB7\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,54)\"><path d=\"M 168 793.0 v 8 M 168 801.0 l -9 8 M 168 801.0 l 9 8\" \/><\/g><circle cx=\"168\" cy=\"846\" r=\"2.4\" fill=\"#534AB7\" \/><circle cx=\"157\" cy=\"865\" r=\"2.4\" fill=\"#534AB7\" \/><circle cx=\"179\" cy=\"865\" r=\"2.4\" fill=\"#534AB7\" \/><\/g>\n<text x=\"206.0\" y=\"853\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#26215C\">What we do<\/text>\n<rect x=\"206.0\" y=\"865\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#534AB7\" \/>\n<text x=\"206.0\" y=\"889\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Koykan owns the brand; Partners and Investors back the restaurants<\/text>\n<text x=\"164.0\" y=\"922\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Koykan owns the brand, the recipes and the complete operating system, which it licenses to each restaurant for a royalty fee.<\/text>\n<text x=\"164.0\" y=\"956\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Most restaurants are built and run by an operating partner, mostly financed by investors and owned by all three parties in predefined proportions.<\/text>\n<rect x=\"164.0\" y=\"986\" width=\"476.0\" height=\"150.0\" rx=\"12\" ry=\"12\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<text x=\"190.0\" y=\"1026\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#26215C\">Koykan owns the brand and system<\/text>\n<circle cx=\"193.0\" cy=\"1061.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"206.0\" y=\"1065\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#3C3489\">Owns the brand, recipes and standards<\/text>\n<circle cx=\"193.0\" cy=\"1088.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"206.0\" y=\"1092\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#3C3489\">Licenses it to each restaurant for a royalty fee<\/text>\n<circle cx=\"193.0\" cy=\"1115.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"206.0\" y=\"1119\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#3C3489\">Holds a stake in each restaurant company<\/text>\n<rect x=\"664.0\" y=\"986\" width=\"476.0\" height=\"150.0\" rx=\"12\" ry=\"12\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.9\" \/>\n<text x=\"690.0\" y=\"1026\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#04342C\">Partners and Investors back the restaurants<\/text>\n<circle cx=\"693.0\" cy=\"1061.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"706.0\" y=\"1065\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#085041\">Operating Partners build and run them<\/text>\n<circle cx=\"693.0\" cy=\"1088.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"706.0\" y=\"1092\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#085041\">Investors and Partners provide the capital<\/text>\n<circle cx=\"693.0\" cy=\"1115.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"706.0\" y=\"1119\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#085041\">Owned by Investors, Koykan and Partners<\/text>\n<rect x=\"164.0\" y=\"1152\" width=\"976.0\" height=\"166.0\" rx=\"12\" ry=\"12\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"1152\" width=\"7.0\" height=\"166.0\" rx=\"12\" ry=\"12\" fill=\"#534AB7\" \/>\n<text x=\"190.0\" y=\"1186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#26215C\">What Koykan owns<\/text>\n<text x=\"190.0\" y=\"1207\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12\" font-weight=\"normal\" fill=\"#5F5E5A\">The full system behind the restaurants, licensed to each one for a royalty fee<\/text>\n<circle cx=\"196.0\" cy=\"1233.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"208.0\" y=\"1237\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The brand and trademarks<\/text>\n<circle cx=\"196.0\" cy=\"1257.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"208.0\" y=\"1261\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The recipes and the menu<\/text>\n<circle cx=\"196.0\" cy=\"1281.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"208.0\" y=\"1285\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The operating model and standards<\/text>\n<circle cx=\"196.0\" cy=\"1305.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"208.0\" y=\"1309\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The kitchen and production technology<\/text>\n<circle cx=\"616.0\" cy=\"1233.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"628.0\" y=\"1237\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The supply chain and procurement<\/text>\n<circle cx=\"616.0\" cy=\"1257.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"628.0\" y=\"1261\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The franchise platform and know-how<\/text>\n<circle cx=\"616.0\" cy=\"1281.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"628.0\" y=\"1285\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\">The digital backbone<\/text>\n<line x1=\"620.0\" y1=\"1336\" x2=\"620.0\" y2=\"1376\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"359.2\" y=\"1378\" width=\"521.6\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"385.20000000000005\" cy=\"1405\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"405.2\" y=\"1410\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Koykan does this through three parts that work together.<\/text>\n<line x1=\"620.0\" y1=\"1434\" x2=\"620.0\" y2=\"1474\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"1655.5\" x2=\"124.0\" y2=\"1655.5\" stroke=\"#6B7280\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"1476\" width=\"1056.0\" height=\"359.0\" rx=\"18\" ry=\"18\" fill=\"#FAFAF8\" stroke=\"#6B7280\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"1522\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#6B7280\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#6B7280\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><rect x=\"159\" y=\"1513\" width=\"6.5\" height=\"6.5\" rx=\"1.4\" \/><rect x=\"159\" y=\"1525\" width=\"6.5\" height=\"6.5\" rx=\"1.4\" \/><rect x=\"171\" y=\"1513\" width=\"6.5\" height=\"6.5\" rx=\"1.4\" \/><rect x=\"171\" y=\"1525\" width=\"6.5\" height=\"6.5\" rx=\"1.4\" \/><\/g>\n<text x=\"206.0\" y=\"1516\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\">Three parts, one system<\/text>\n<rect x=\"206.0\" y=\"1528\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#6B7280\" \/>\n<text x=\"206.0\" y=\"1552\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The Brand Company, the Partners and the Capital Engine<\/text>\n<text x=\"164.0\" y=\"1585\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#1A1A1A\">Together the three parts form the Koykan Capital and Expansion Platform, Koykan’s programme for capital, partners and expansion.<\/text>\n<rect x=\"164.0\" y=\"1613\" width=\"310.7\" height=\"190.0\" rx=\"14\" ry=\"14\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<circle cx=\"319.33333333333337\" cy=\"1655\" r=\"20\" fill=\"#FFFFFF\" stroke=\"#534AB7\" stroke-width=\"1.2\" \/>\n<g fill=\"none\" stroke=\"#534AB7\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"319.33333333333337\" cy=\"1655\" r=\"6\" \/><line x1=\"325.3\" y1=\"1655\" x2=\"332.3\" y2=\"1655\" \/><line x1=\"321.2\" y1=\"1660.7\" x2=\"323.4\" y2=\"1667.4\" \/><line x1=\"314.5\" y1=\"1658.5\" x2=\"308.8\" y2=\"1662.6\" \/><line x1=\"314.5\" y1=\"1651.5\" x2=\"308.8\" y2=\"1647.4\" \/><line x1=\"321.2\" y1=\"1649.3\" x2=\"323.4\" y2=\"1642.6\" \/><\/g>\n<text x=\"319.3\" y=\"1703\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#26215C\" text-anchor=\"middle\">The Brand Company<\/text>\n<text x=\"319.3\" y=\"1729\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\" text-anchor=\"middle\">Owns the brand, the recipes<\/text>\n<text x=\"319.3\" y=\"1749\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\" text-anchor=\"middle\">and the operating system<\/text>\n<text x=\"319.3\" y=\"1769\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#3C3489\" text-anchor=\"middle\">and sets the standards<\/text>\n<rect x=\"496.7\" y=\"1613\" width=\"310.7\" height=\"190.0\" rx=\"14\" ry=\"14\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.9\" \/>\n<circle cx=\"652.0\" cy=\"1655\" r=\"20\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.2\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"644.0\" cy=\"1649\" r=\"5\" \/><g transform=\"translate(0,80)\"><path d=\"M 636.0 1587.0 a 8 8 0 0 1 16 0\" \/><\/g><circle cx=\"660.0\" cy=\"1649\" r=\"5\" \/><g transform=\"translate(0,80)\"><path d=\"M 652.0 1587.0 a 8 8 0 0 1 16 0\" \/><\/g><\/g>\n<text x=\"652.0\" y=\"1703\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#04342C\" text-anchor=\"middle\">The Partners<\/text>\n<text x=\"652.0\" y=\"1729\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#085041\" text-anchor=\"middle\">Local operators who build<\/text>\n<text x=\"652.0\" y=\"1749\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#085041\" text-anchor=\"middle\">and run the restaurants<\/text>\n<text x=\"652.0\" y=\"1769\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#085041\" text-anchor=\"middle\">in their own regions<\/text>\n<rect x=\"829.3\" y=\"1613\" width=\"310.7\" height=\"190.0\" rx=\"14\" ry=\"14\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<circle cx=\"984.6666666666667\" cy=\"1655\" r=\"20\" fill=\"#FFFFFF\" stroke=\"#854F0B\" stroke-width=\"1.2\" \/>\n<g fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><ellipse cx=\"984.6666666666667\" cy=\"1648\" rx=\"13\" ry=\"5\" \/><g transform=\"translate(0,80)\"><path d=\"M 971.6666666666667 1568.0 v 8 a 13 5 0 0 0 26 0 v -8\" \/><\/g><g transform=\"translate(0,80)\"><path d=\"M 971.6666666666667 1574.0 a 13 5 0 0 0 26 0\" \/><\/g><\/g>\n<text x=\"984.7\" y=\"1703\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#412402\" text-anchor=\"middle\">The Capital Engine<\/text>\n<text x=\"984.7\" y=\"1729\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#633806\" text-anchor=\"middle\">Finances each build<\/text>\n<text x=\"984.7\" y=\"1749\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#633806\" text-anchor=\"middle\">and holds the proven<\/text>\n<text x=\"984.7\" y=\"1769\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"normal\" fill=\"#633806\" text-anchor=\"middle\">restaurants for the long term<\/text>\n<line x1=\"620.0\" y1=\"1837\" x2=\"620.0\" y2=\"1877\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"351.6\" y=\"1879\" width=\"536.8\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"377.6\" cy=\"1906\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"397.6\" y=\"1911\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The Brand Company sits at the centre of the whole system.<\/text>\n<line x1=\"620.0\" y1=\"1935\" x2=\"620.0\" y2=\"1975\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"2170\" x2=\"124.0\" y2=\"2170\" stroke=\"#534AB7\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"1977\" width=\"1056.0\" height=\"386.0\" rx=\"18\" ry=\"18\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"2023\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#534AB7\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#534AB7\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"168\" cy=\"2023\" r=\"6\" \/><line x1=\"174.0\" y1=\"2023\" x2=\"181.0\" y2=\"2023\" \/><line x1=\"169.9\" y1=\"2028.7\" x2=\"172.0\" y2=\"2035.4\" \/><line x1=\"163.1\" y1=\"2026.5\" x2=\"157.5\" y2=\"2030.6\" \/><line x1=\"163.1\" y1=\"2019.5\" x2=\"157.5\" y2=\"2015.4\" \/><line x1=\"169.9\" y1=\"2017.3\" x2=\"172.0\" y2=\"2010.6\" \/><\/g>\n<text x=\"206.0\" y=\"2017\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#26215C\">The Brand Company<\/text>\n<rect x=\"206.0\" y=\"2029\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#534AB7\" \/>\n<text x=\"206.0\" y=\"2053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Koykan TopCo, the company that owns the brand and the system<\/text>\n<text x=\"164.0\" y=\"2086\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Koykan TopCo holds the brand, the recipes, the operating model and standards, the kitchen technology,<\/text>\n<text x=\"164.0\" y=\"2111\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">the supply chain, the franchise platform and the digital backbone, and licenses them for a royalty fee.<\/text>\n<rect x=\"164.0\" y=\"2141\" width=\"372.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"1\" \/>\n<text x=\"188.0\" y=\"2181\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#26215C\">Koykan TopCo<\/text>\n<circle cx=\"191.0\" cy=\"2220.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"204.0\" y=\"2224\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#3C3489\">Owns the brand, the recipes and the system<\/text>\n<circle cx=\"191.0\" cy=\"2244.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"204.0\" y=\"2248\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#3C3489\">Sets the operating standards across the network<\/text>\n<circle cx=\"191.0\" cy=\"2268.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"204.0\" y=\"2272\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#3C3489\">Earns a royalty fee from each restaurant<\/text>\n<circle cx=\"191.0\" cy=\"2292.5\" r=\"3\" fill=\"#534AB7\" \/><text x=\"204.0\" y=\"2296\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#3C3489\">Keeps a part-ownership in the restaurants<\/text>\n<rect x=\"556.0\" y=\"2141\" width=\"184.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"648.0\" y=\"2177\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">Brand & standards<\/text>\n<line x1=\"578.0\" y1=\"2189\" x2=\"718.0\" y2=\"2189\" stroke=\"#534AB7\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"648.0\" y=\"2215\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Develops the brand,<\/text>\n<text x=\"648.0\" y=\"2235\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">the recipes and the<\/text>\n<text x=\"648.0\" y=\"2255\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">system, and sets the<\/text>\n<text x=\"648.0\" y=\"2275\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">standards<\/text>\n<rect x=\"756.0\" y=\"2141\" width=\"184.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"848.0\" y=\"2177\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">Fran\u0161\u00edza<\/text>\n<line x1=\"778.0\" y1=\"2189\" x2=\"918.0\" y2=\"2189\" stroke=\"#534AB7\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"848.0\" y=\"2215\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Finds and signs the<\/text>\n<text x=\"848.0\" y=\"2235\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">franchise Partners and<\/text>\n<text x=\"848.0\" y=\"2255\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">manages the agreements<\/text>\n<text x=\"848.0\" y=\"2275\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">and the brand<\/text>\n<rect x=\"956.0\" y=\"2141\" width=\"184.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"1048.0\" y=\"2177\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">Development<\/text>\n<line x1=\"978.0\" y1=\"2189\" x2=\"1118.0\" y2=\"2189\" stroke=\"#534AB7\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"1048.0\" y=\"2215\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Opens a few own<\/text>\n<text x=\"1048.0\" y=\"2235\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">restaurants to enter<\/text>\n<text x=\"1048.0\" y=\"2255\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">new markets and test;<\/text>\n<text x=\"1048.0\" y=\"2275\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">kept to a small share<\/text>\n<line x1=\"620.0\" y1=\"2365\" x2=\"620.0\" y2=\"2405\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"222.4\" y=\"2407\" width=\"795.2\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"248.40000000000003\" cy=\"2434\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"268.4\" y=\"2439\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The Brand Company sets the standard. Partners build and run the restaurants in each market.<\/text>\n<line x1=\"620.0\" y1=\"2463\" x2=\"620.0\" y2=\"2503\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"2748\" x2=\"124.0\" y2=\"2748\" stroke=\"#0F6E56\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"2505\" width=\"1056.0\" height=\"486.0\" rx=\"18\" ry=\"18\" fill=\"#F0FAF6\" stroke=\"#0F6E56\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"2551\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"160\" cy=\"2545\" r=\"5\" \/><g transform=\"translate(0,132)\"><path d=\"M 152 2431.0 a 8 8 0 0 1 16 0\" \/><\/g><circle cx=\"176\" cy=\"2545\" r=\"5\" \/><g transform=\"translate(0,132)\"><path d=\"M 168 2431.0 a 8 8 0 0 1 16 0\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"2545\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#04342C\">The Operating Partners<\/text>\n<rect x=\"206.0\" y=\"2557\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#0F6E56\" \/>\n<text x=\"206.0\" y=\"2581\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Experienced local operators who develop a defined area<\/text>\n<text x=\"164.0\" y=\"2614\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#1A1A1A\">Partners take a region and grow it under the Koykan brand. The operating profile is the same across the three configurations; they differ in how the<\/text>\n<text x=\"164.0\" y=\"2639\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#1A1A1A\">area is financed and how it is structured.<\/text>\n<rect x=\"164.0\" y=\"2669\" width=\"312.0\" height=\"208.0\" rx=\"14\" ry=\"14\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.7\" \/>\n<rect x=\"364.0\" y=\"2687\" width=\"94.0\" height=\"28.0\" rx=\"14\" ry=\"14\" fill=\"#0F6E56\" \/>\n<text x=\"411.0\" y=\"2706\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">preferred<\/text>\n<text x=\"188.0\" y=\"2727\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"28\" font-weight=\"500\" fill=\"#04342C\">AFP<\/text>\n<text x=\"188.0\" y=\"2751\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Area Franchise Partner<\/text>\n<circle cx=\"191.0\" cy=\"2794.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"204.0\" y=\"2798\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Funds their own area<\/text>\n<circle cx=\"191.0\" cy=\"2819.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"204.0\" y=\"2823\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Owns the restaurants<\/text>\n<circle cx=\"191.0\" cy=\"2844.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"204.0\" y=\"2848\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Holds area exclusivity<\/text>\n<rect x=\"496.0\" y=\"2669\" width=\"312.0\" height=\"208.0\" rx=\"14\" ry=\"14\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"520.0\" y=\"2727\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"28\" font-weight=\"500\" fill=\"#04342C\">AOP<\/text>\n<text x=\"520.0\" y=\"2751\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Area Operation Partner<\/text>\n<circle cx=\"523.0\" cy=\"2794.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"536.0\" y=\"2798\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Brings part of the capital<\/text>\n<circle cx=\"523.0\" cy=\"2819.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"536.0\" y=\"2823\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Capital Engine co-invests alongside<\/text>\n<circle cx=\"523.0\" cy=\"2844.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"536.0\" y=\"2848\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Earns equity by performing<\/text>\n<rect x=\"828.0\" y=\"2669\" width=\"312.0\" height=\"208.0\" rx=\"14\" ry=\"14\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.2\" \/>\n<text x=\"852.0\" y=\"2727\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"28\" font-weight=\"500\" fill=\"#04342C\">MFP<\/text>\n<text x=\"852.0\" y=\"2751\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Master Franchise Partner<\/text>\n<circle cx=\"855.0\" cy=\"2794.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"868.0\" y=\"2798\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Takes a country or region<\/text>\n<circle cx=\"855.0\" cy=\"2819.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"868.0\" y=\"2823\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Used where it is the norm<\/text>\n<circle cx=\"855.0\" cy=\"2844.5\" r=\"3\" fill=\"#0F6E56\" \/><text x=\"868.0\" y=\"2848\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#085041\">Runs a sub-franchise network<\/text>\n<rect x=\"164.0\" y=\"2895\" width=\"976.0\" height=\"64.0\" rx=\"10\" ry=\"10\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.9\" \/>\n<text x=\"186.0\" y=\"2922\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"500\" fill=\"#04342C\">Koykan opens a small number of its own restaurants to establish a new market, then hands growth to partners.<\/text>\n<text x=\"186.0\" y=\"2943\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"500\" fill=\"#04342C\">Corporate restaurants stay a small share of the network.<\/text>\n<line x1=\"620.0\" y1=\"2993\" x2=\"620.0\" y2=\"3033\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"214.8\" y=\"3035\" width=\"810.4\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"240.8\" cy=\"3062\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"260.8\" y=\"3067\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Each restaurant needs capital to build. The Capital Engine provides it through four pillars.<\/text>\n<line x1=\"620.0\" y1=\"3091\" x2=\"620.0\" y2=\"3131\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"3451\" x2=\"124.0\" y2=\"3451\" stroke=\"#854F0B\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"3133\" width=\"1056.0\" height=\"636.0\" rx=\"18\" ry=\"18\" fill=\"#FDF8EE\" stroke=\"#854F0B\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"3179\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#854F0B\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><ellipse cx=\"168\" cy=\"3172\" rx=\"13\" ry=\"5\" \/><g transform=\"translate(0,158)\"><path d=\"M 155 3014.0 v 8 a 13 5 0 0 0 26 0 v -8\" \/><\/g><g transform=\"translate(0,158)\"><path d=\"M 155 3020.0 a 13 5 0 0 0 26 0\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"3173\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#412402\">The Capital Engine<\/text>\n<rect x=\"206.0\" y=\"3185\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#854F0B\" \/>\n<text x=\"206.0\" y=\"3209\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Four pillars of capital – two back the company and two finance individual restaurants<\/text>\n<text x=\"164.0\" y=\"3242\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">The Capital Engine brings capital into the system through four pillars, each with its own instruments, timing and type of investor.<\/text>\n<text x=\"164.0\" y=\"3267\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#1A1A1A\">Two pillars back Koykan as a whole and two finance and hold individual restaurants.<\/text>\n<rect x=\"164.0\" y=\"3295\" width=\"976.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"3295\" width=\"7.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#534AB7\" \/>\n<text x=\"190.0\" y=\"3333\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#534AB7\">Equity<\/text>\n<text x=\"190.0\" y=\"3361\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"500\" fill=\"#26215C\">A share of TopCo<\/text>\n<text x=\"399.0\" y=\"3329\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">How it works<\/text>\n<text x=\"399.0\" y=\"3349\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">A direct share in the Koykan brand, the<\/text>\n<text x=\"399.0\" y=\"3367\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">franchise network and the royalty stream.<\/text>\n<text x=\"824.0\" y=\"3329\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">Who it is for<\/text>\n<text x=\"824.0\" y=\"3349\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Long-term investors backing the company as a whole<\/text>\n<rect x=\"164.0\" y=\"3409\" width=\"976.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#FDF8EE\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"3409\" width=\"7.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#854F0B\" \/>\n<text x=\"190.0\" y=\"3447\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#854F0B\">Growth<\/text>\n<text x=\"190.0\" y=\"3475\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"500\" fill=\"#412402\">Capital for new restaurants<\/text>\n<text x=\"399.0\" y=\"3443\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">How it works<\/text>\n<text x=\"399.0\" y=\"3463\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Funds a batch of new restaurants and shares in the value<\/text>\n<text x=\"399.0\" y=\"3481\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">created as they open and reach steady performance.<\/text>\n<text x=\"824.0\" y=\"3443\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">Who it is for<\/text>\n<text x=\"824.0\" y=\"3463\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Investors seeking development<\/text>\n<text x=\"824.0\" y=\"3481\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">upside over a defined period<\/text>\n<rect x=\"164.0\" y=\"3523\" width=\"976.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#FDF1F5\" stroke=\"#993556\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"3523\" width=\"7.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#993556\" \/>\n<text x=\"190.0\" y=\"3561\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#993556\">Yield<\/text>\n<text x=\"190.0\" y=\"3589\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"500\" fill=\"#72243E\">A share of proven restaurants<\/text>\n<text x=\"399.0\" y=\"3557\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">How it works<\/text>\n<text x=\"399.0\" y=\"3577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Holds a share of restaurants that already<\/text>\n<text x=\"399.0\" y=\"3595\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">perform and receives the cash they produce.<\/text>\n<text x=\"824.0\" y=\"3557\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">Who it is for<\/text>\n<text x=\"824.0\" y=\"3577\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Investors seeking steady, recurring income<\/text>\n<rect x=\"164.0\" y=\"3637\" width=\"976.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#FAFAF8\" stroke=\"#5F5E5A\" stroke-width=\"0.9\" \/>\n<rect x=\"164.0\" y=\"3637\" width=\"7.0\" height=\"100.0\" rx=\"12\" ry=\"12\" fill=\"#5F5E5A\" \/>\n<text x=\"190.0\" y=\"3675\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#5F5E5A\">Bonds<\/text>\n<text x=\"190.0\" y=\"3703\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13\" font-weight=\"500\" fill=\"#1A1A1A\">Lending at a fixed return<\/text>\n<text x=\"399.0\" y=\"3671\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">How it works<\/text>\n<text x=\"399.0\" y=\"3691\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Lends to Koykan and receives interest, with<\/text>\n<text x=\"399.0\" y=\"3709\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">the principal repaid at the end of the term.<\/text>\n<text x=\"824.0\" y=\"3671\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"11.5\" font-weight=\"500\" fill=\"#8B897F\">Who it is for<\/text>\n<text x=\"824.0\" y=\"3691\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Investors who prefer a fixed return over a set term<\/text>\n<line x1=\"620.0\" y1=\"3771\" x2=\"620.0\" y2=\"3811\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"344.0\" y=\"3813\" width=\"552.0\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"370.0\" cy=\"3840\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"390.0\" y=\"3845\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">These pillars meet in the path that each restaurant follows.<\/text>\n<line x1=\"620.0\" y1=\"3869\" x2=\"620.0\" y2=\"3909\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"4093\" x2=\"124.0\" y2=\"4093\" stroke=\"#6B7280\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"3911\" width=\"1056.0\" height=\"364.0\" rx=\"18\" ry=\"18\" fill=\"#FAFAF8\" stroke=\"#6B7280\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"3957\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#6B7280\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#6B7280\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,184)\"><path d=\"M 155 3784.0 q 6 -22 13 -11 q 7 11 13 -11\" \/><\/g><circle cx=\"155\" cy=\"3968\" r=\"2.4\" fill=\"#6B7280\" \/><circle cx=\"181\" cy=\"3946\" r=\"2.4\" fill=\"#6B7280\" \/><\/g>\n<text x=\"206.0\" y=\"3951\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\">How a restaurant moves through the system<\/text>\n<rect x=\"206.0\" y=\"3963\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#6B7280\" \/>\n<text x=\"206.0\" y=\"3987\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">From the first day to a proven business<\/text>\n<rect x=\"164.0\" y=\"4011\" width=\"214.0\" height=\"164.0\" rx=\"14\" ry=\"14\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<text x=\"271.0\" y=\"4053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#26215C\" text-anchor=\"middle\">1. The brand<\/text>\n<line x1=\"186.0\" y1=\"4065\" x2=\"356.0\" y2=\"4065\" stroke=\"#534AB7\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"271.0\" y=\"4095\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#26215C\" text-anchor=\"middle\">TopCo licenses the name,<\/text>\n<text x=\"271.0\" y=\"4117\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#26215C\" text-anchor=\"middle\">recipes and system<\/text>\n<text x=\"271.0\" y=\"4139\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#26215C\" text-anchor=\"middle\">for a royalty fee<\/text>\n<line x1=\"385.0\" y1=\"4093\" x2=\"411.0\" y2=\"4093\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"418.0\" y=\"4011\" width=\"214.0\" height=\"164.0\" rx=\"14\" ry=\"14\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<text x=\"525.0\" y=\"4053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#412402\" text-anchor=\"middle\">2. The build<\/text>\n<line x1=\"440.0\" y1=\"4065\" x2=\"610.0\" y2=\"4065\" stroke=\"#854F0B\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"525.0\" y=\"4095\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#412402\" text-anchor=\"middle\">Growth capital or the<\/text>\n<text x=\"525.0\" y=\"4117\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#412402\" text-anchor=\"middle\">partner funds the<\/text>\n<text x=\"525.0\" y=\"4139\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#412402\" text-anchor=\"middle\">build-out<\/text>\n<line x1=\"639.0\" y1=\"4093\" x2=\"665.0\" y2=\"4093\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"672.0\" y=\"4011\" width=\"214.0\" height=\"164.0\" rx=\"14\" ry=\"14\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.9\" \/>\n<text x=\"779.0\" y=\"4053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#04342C\" text-anchor=\"middle\">3. The opening<\/text>\n<line x1=\"694.0\" y1=\"4065\" x2=\"864.0\" y2=\"4065\" stroke=\"#0F6E56\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"779.0\" y=\"4095\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#04342C\" text-anchor=\"middle\">The partner runs it;<\/text>\n<text x=\"779.0\" y=\"4117\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#04342C\" text-anchor=\"middle\">revenue and profit<\/text>\n<text x=\"779.0\" y=\"4139\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#04342C\" text-anchor=\"middle\">settle over the months<\/text>\n<line x1=\"893.0\" y1=\"4093\" x2=\"919.0\" y2=\"4093\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"926.0\" y=\"4011\" width=\"214.0\" height=\"164.0\" rx=\"14\" ry=\"14\" fill=\"#FBEAF0\" stroke=\"#993556\" stroke-width=\"0.9\" \/>\n<text x=\"1033.0\" y=\"4053\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#72243E\" text-anchor=\"middle\">4. Steady state<\/text>\n<line x1=\"948.0\" y1=\"4065\" x2=\"1118.0\" y2=\"4065\" stroke=\"#993556\" stroke-width=\"0.6\" stroke-linecap=\"round\" opacity=\"0.4\" \/>\n<text x=\"1033.0\" y=\"4095\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#72243E\" text-anchor=\"middle\">Once it is steady it<\/text>\n<text x=\"1033.0\" y=\"4117\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#72243E\" text-anchor=\"middle\">moves to the yield pillar<\/text>\n<text x=\"1033.0\" y=\"4139\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#72243E\" text-anchor=\"middle\">or is sold to a partner<\/text>\n<text x=\"164.0\" y=\"4209\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#5F5E5A\">Each restaurant is a separate company. The brand, the build capital and the local operator<\/text>\n<text x=\"164.0\" y=\"4233\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#5F5E5A\">each play their defined part as it moves from opening to a proven business.<\/text>\n<line x1=\"620.0\" y1=\"4277\" x2=\"620.0\" y2=\"4317\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"298.4\" y=\"4319\" width=\"643.2\" height=\"76.0\" rx=\"16\" ry=\"16\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"324.40000000000003\" cy=\"4357\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"344.4\" y=\"4351\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">As each restaurant reaches steady performance and moves to the<\/text>\n<text x=\"344.4\" y=\"4373\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">yield side, the capital that built it returns to finance the next batch.<\/text>\n<line x1=\"620.0\" y1=\"4397\" x2=\"620.0\" y2=\"4437\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"4819\" x2=\"124.0\" y2=\"4819\" stroke=\"#854F0B\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"4439\" width=\"1056.0\" height=\"760.0\" rx=\"18\" ry=\"18\" fill=\"#FDF8EE\" stroke=\"#854F0B\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"4485\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#854F0B\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,210)\"><path d=\"M 157 4273.0 A 11 11 0 0 1 179 4273.0\" \/><\/g><g transform=\"translate(0,210)\"><path d=\"M 175 4269.0 L 182 4273.0 L 175 4277.0 Z\" fill=\"#854F0B\" stroke=\"none\" \/><\/g><g transform=\"translate(0,210)\"><path d=\"M 179 4277.0 A 11 11 0 0 1 157 4277.0\" \/><\/g><g transform=\"translate(0,210)\"><path d=\"M 161 4281.0 L 154 4277.0 L 161 4273.0 Z\" fill=\"#854F0B\" stroke=\"none\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"4479\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#412402\">The capital cycle<\/text>\n<rect x=\"206.0\" y=\"4491\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#854F0B\" \/>\n<text x=\"206.0\" y=\"4515\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Each completed restaurant funds the next<\/text>\n<circle cx=\"620.0\" cy=\"4826\" r=\"152.5\" fill=\"none\" stroke=\"#8B897F\" stroke-width=\"0.6\" stroke-dasharray=\"3 8\" opacity=\"0.28\" \/>\n<circle cx=\"620.0\" cy=\"4826\" r=\"92\" fill=\"#FFFFFF\" stroke=\"#854F0B\" stroke-width=\"1.2\" \/>\n<text x=\"620.0\" y=\"4820\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"22\" font-weight=\"500\" fill=\"#854F0B\" text-anchor=\"middle\">The cycle<\/text>\n<text x=\"620.0\" y=\"4846\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#633806\" text-anchor=\"middle\">larger each turn<\/text>\n<g transform=\"translate(0,210)\"><path d=\"M 687.9 4463.4 A 167.0 167.0 0 0 1 772.6 4548.1\" fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.8\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<\/g><g transform=\"translate(0,210)\"><path d=\"M 772.6 4683.9 A 167.0 167.0 0 0 1 687.9 4768.6\" fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.8\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<\/g><g transform=\"translate(0,210)\"><path d=\"M 552.1 4768.6 A 167.0 167.0 0 0 1 467.4 4683.9\" fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.8\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<\/g><g transform=\"translate(0,210)\"><path d=\"M 467.4 4548.1 A 167.0 167.0 0 0 1 552.1 4463.4\" fill=\"none\" stroke=\"#854F0B\" stroke-width=\"2.8\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<\/g><rect x=\"498.0\" y=\"4555\" width=\"244.0\" height=\"78.0\" rx=\"16\" ry=\"16\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.85\" \/>\n<text x=\"620.0\" y=\"4590\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#412402\" text-anchor=\"middle\">Build<\/text>\n<text x=\"620.0\" y=\"4614\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#412402\" text-anchor=\"middle\">finance new restaurants<\/text>\n<rect x=\"730.0\" y=\"4787\" width=\"244.0\" height=\"78.0\" rx=\"16\" ry=\"16\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"0.85\" \/>\n<text x=\"852.0\" y=\"4822\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#04342C\" text-anchor=\"middle\">Prove<\/text>\n<text x=\"852.0\" y=\"4846\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#04342C\" text-anchor=\"middle\">reach steady profit<\/text>\n<rect x=\"498.0\" y=\"5019\" width=\"244.0\" height=\"78.0\" rx=\"16\" ry=\"16\" fill=\"#FBEAF0\" stroke=\"#993556\" stroke-width=\"0.85\" \/>\n<text x=\"620.0\" y=\"5054\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#72243E\" text-anchor=\"middle\">Transfer<\/text>\n<text x=\"620.0\" y=\"5078\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#72243E\" text-anchor=\"middle\">into the yield side<\/text>\n<rect x=\"266.0\" y=\"4787\" width=\"244.0\" height=\"78.0\" rx=\"16\" ry=\"16\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.85\" \/>\n<text x=\"388.0\" y=\"4822\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#26215C\" text-anchor=\"middle\">Return<\/text>\n<text x=\"388.0\" y=\"4846\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#26215C\" text-anchor=\"middle\">capital funds the next batch<\/text>\n<rect x=\"164.0\" y=\"5121\" width=\"976.0\" height=\"46.0\" rx=\"10\" ry=\"10\" fill=\"#FFFFFF\" stroke=\"#8B6914\" stroke-width=\"1.1\" \/>\n<text x=\"184.0\" y=\"5150\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.2\" font-weight=\"500\" fill=\"#1A1A1A\">When a restaurant moves to the yield side, the way the transfer is structured keeps most of the value created in development intact.<\/text>\n<line x1=\"620.0\" y1=\"5201\" x2=\"620.0\" y2=\"5241\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"438.7\" y=\"5243\" width=\"362.7\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"464.7\" cy=\"5270\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"484.7\" y=\"5275\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The cycle suits two different types of investor.<\/text>\n<line x1=\"620.0\" y1=\"5299\" x2=\"620.0\" y2=\"5339\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"5512\" x2=\"124.0\" y2=\"5512\" stroke=\"#6B7280\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"5341\" width=\"1056.0\" height=\"342.0\" rx=\"18\" ry=\"18\" fill=\"#FAFAF8\" stroke=\"#6B7280\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"5387\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#6B7280\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#6B7280\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><circle cx=\"168\" cy=\"5390\" r=\"11\" \/><g transform=\"translate(0,236)\"><path d=\"M 168 5159.0 v -10 M 164 5147.0 l 4 -4 4 4\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"5381\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\">What growth and yield investors can earn<\/text>\n<rect x=\"206.0\" y=\"5393\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#6B7280\" \/>\n<text x=\"206.0\" y=\"5417\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The two positions the capital cycle creates for investors<\/text>\n<text x=\"164.0\" y=\"5450\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The growth and yield pillars suit different investors.<\/text>\n<text x=\"164.0\" y=\"5475\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Some prefer the higher upside of building new restaurants; others prefer the steadier income of proven ones.<\/text>\n<rect x=\"164.0\" y=\"5499\" width=\"477.0\" height=\"152.0\" rx=\"14\" ry=\"14\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<text x=\"188.0\" y=\"5539\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#412402\">Growth investors<\/text>\n<text x=\"188.0\" y=\"5563\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#633806\">Back new restaurants and share the upside<\/text>\n<text x=\"188.0\" y=\"5603\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#854F0B\">Higher upside<\/text>\n<text x=\"188.0\" y=\"5627\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#633806\">from building and stabilising new restaurants over a defined period<\/text>\n<rect x=\"663.0\" y=\"5499\" width=\"477.0\" height=\"152.0\" rx=\"14\" ry=\"14\" fill=\"#FBEAF0\" stroke=\"#993556\" stroke-width=\"0.9\" \/>\n<text x=\"687.0\" y=\"5539\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"19\" font-weight=\"500\" fill=\"#72243E\">Yield investors<\/text>\n<text x=\"687.0\" y=\"5563\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#993556\">Hold proven restaurants and receive the income<\/text>\n<text x=\"687.0\" y=\"5603\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#993556\">Steady income<\/text>\n<text x=\"687.0\" y=\"5627\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#72243E\">recurring cash from restaurants that already perform<\/text>\n<line x1=\"620.0\" y1=\"5685\" x2=\"620.0\" y2=\"5725\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"279.4\" y=\"5727\" width=\"681.2\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"305.40000000000003\" cy=\"5754\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"325.4\" y=\"5759\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Repeated across many restaurants and markets, this builds a European network.<\/text>\n<line x1=\"620.0\" y1=\"5783\" x2=\"620.0\" y2=\"5823\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"6026.5\" x2=\"124.0\" y2=\"6026.5\" stroke=\"#0F6E56\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"5825\" width=\"1056.0\" height=\"403.0\" rx=\"18\" ry=\"18\" fill=\"#F0FAF6\" stroke=\"#0F6E56\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"5871\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,262)\"><path d=\"M 155 5621.0 h 26 M 155 5621.0 v -22\" \/><\/g><rect x=\"159\" y=\"5875\" width=\"6\" height=\"8\" \/><rect x=\"167\" y=\"5868\" width=\"6\" height=\"15\" \/><rect x=\"175\" y=\"5862\" width=\"6\" height=\"21\" \/><\/g>\n<text x=\"206.0\" y=\"5865\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#04342C\">How we grow<\/text>\n<rect x=\"206.0\" y=\"5877\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#0F6E56\" \/>\n<text x=\"206.0\" y=\"5901\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">From nine restaurants to a European network<\/text>\n<text x=\"164.0\" y=\"5934\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Growth comes from adding new partners each year, each opening a steady stream of restaurants, with a small number of corporate openings on top.<\/text>\n<line x1=\"164.0\" y1=\"6138\" x2=\"1140.0\" y2=\"6138\" stroke=\"#E8E6DE\" stroke-width=\"1.4\" stroke-linecap=\"round\" \/>\n<rect x=\"244.0\" y=\"6126\" width=\"84.0\" height=\"12.0\" rx=\"5\" ry=\"5\" fill=\"#0F6E56\" \/>\n<text x=\"286.0\" y=\"6112\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">9<\/text>\n<text x=\"286.0\" y=\"6166\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">2026<\/text>\n<text x=\"286.0\" y=\"6186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#8B897F\" text-anchor=\"middle\">in operation<\/text>\n<rect x=\"488.0\" y=\"6110.5\" width=\"84.0\" height=\"27.5\" rx=\"5\" ry=\"5\" fill=\"#854F0B\" \/>\n<text x=\"530.0\" y=\"6096.5\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">145<\/text>\n<text x=\"530.0\" y=\"6166\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">2030<\/text>\n<text x=\"530.0\" y=\"6186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#8B897F\" text-anchor=\"middle\">target<\/text>\n<rect x=\"732.0\" y=\"6081\" width=\"84.0\" height=\"57.0\" rx=\"5\" ry=\"5\" fill=\"#854F0B\" \/>\n<text x=\"774.0\" y=\"6067\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">300<\/text>\n<text x=\"774.0\" y=\"6166\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">2032<\/text>\n<text x=\"774.0\" y=\"6186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#8B897F\" text-anchor=\"middle\">target<\/text>\n<rect x=\"976.0\" y=\"5988\" width=\"84.0\" height=\"150.0\" rx=\"5\" ry=\"5\" fill=\"#854F0B\" \/>\n<text x=\"1018.0\" y=\"5974\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#1A1A1A\" text-anchor=\"middle\">790<\/text>\n<text x=\"1018.0\" y=\"6166\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">2036<\/text>\n<text x=\"1018.0\" y=\"6186\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.5\" font-weight=\"normal\" fill=\"#8B897F\" text-anchor=\"middle\">target<\/text>\n<line x1=\"620.0\" y1=\"6230\" x2=\"620.0\" y2=\"6270\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"332.6\" y=\"6272\" width=\"574.8\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"358.6\" cy=\"6299\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"378.6\" y=\"6304\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">The capital that supports this growth arrives in defined steps.<\/text>\n<line x1=\"620.0\" y1=\"6328\" x2=\"620.0\" y2=\"6368\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"6563\" x2=\"124.0\" y2=\"6563\" stroke=\"#534AB7\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"6370\" width=\"1056.0\" height=\"386.0\" rx=\"18\" ry=\"18\" fill=\"#F6F5FE\" stroke=\"#534AB7\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"6416\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#534AB7\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#534AB7\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,288)\"><path d=\"M 159 6141.0 v -26\" \/><\/g><g transform=\"translate(0,288)\"><path d=\"M 159 6116.0 h 18 l -4 5 l 4 5 h -18 z\" \/><\/g><\/g>\n<text x=\"206.0\" y=\"6410\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#26215C\">The capital journey<\/text>\n<rect x=\"206.0\" y=\"6422\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#534AB7\" \/>\n<text x=\"206.0\" y=\"6446\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">How investment in Koykan TopCo, the company that owns the brand, grows over time<\/text>\n<text x=\"164.0\" y=\"6479\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Investment in Koykan TopCo, the company that owns the brand and the system, arrives in defined steps.<\/text>\n<text x=\"164.0\" y=\"6504\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#5F5E5A\">Each step brings in larger investors at a higher value as the network grows.<\/text>\n<rect x=\"164.0\" y=\"6530\" width=\"289.3\" height=\"112.0\" rx=\"14\" ry=\"14\" fill=\"#EEEDFE\" stroke=\"#534AB7\" stroke-width=\"0.9\" \/>\n<text x=\"308.7\" y=\"6574\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#26215C\" text-anchor=\"middle\">Strategic round<\/text>\n<text x=\"308.7\" y=\"6600\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">Committed backers take<\/text>\n<text x=\"308.7\" y=\"6618\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">a stake in the company<\/text>\n<line x1=\"463.3\" y1=\"6586\" x2=\"497.3\" y2=\"6586\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"507.3\" y=\"6530\" width=\"289.3\" height=\"112.0\" rx=\"14\" ry=\"14\" fill=\"#FAEEDA\" stroke=\"#854F0B\" stroke-width=\"0.9\" \/>\n<text x=\"652.0\" y=\"6574\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#412402\" text-anchor=\"middle\">Private equity<\/text>\n<text x=\"652.0\" y=\"6600\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">A larger investor enters<\/text>\n<text x=\"652.0\" y=\"6618\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">later, at a higher value<\/text>\n<line x1=\"806.7\" y1=\"6586\" x2=\"840.7\" y2=\"6586\" stroke=\"#854F0B\" stroke-width=\"2.6\" stroke-linecap=\"round\" marker-end=\"url(#aAmb)\" \/>\n<rect x=\"850.7\" y=\"6530\" width=\"289.3\" height=\"112.0\" rx=\"14\" ry=\"14\" fill=\"#FBEAF0\" stroke=\"#993556\" stroke-width=\"0.9\" \/>\n<text x=\"995.3\" y=\"6574\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#72243E\" text-anchor=\"middle\">Public listing<\/text>\n<text x=\"995.3\" y=\"6600\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">The long-term destination as<\/text>\n<text x=\"995.3\" y=\"6618\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12.8\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"middle\">the network matures<\/text>\n<rect x=\"164.0\" y=\"6660\" width=\"976.0\" height=\"64.0\" rx=\"10\" ry=\"10\" fill=\"#FFFFFF\" stroke=\"#E8E6DE\" stroke-width=\"1.1\" \/>\n<text x=\"184.0\" y=\"6687\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.2\" font-weight=\"500\" fill=\"#1A1A1A\">Koykan grew its first restaurants with the help of bondholders – investors who lent the company money through bonds.<\/text>\n<text x=\"184.0\" y=\"6707\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.2\" font-weight=\"500\" fill=\"#1A1A1A\">As those bonds come due, each bondholder can move into the equity, growth or yield pillars instead of simply being repaid.<\/text>\n<line x1=\"620.0\" y1=\"6758\" x2=\"620.0\" y2=\"6798\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<rect x=\"294.6\" y=\"6800\" width=\"650.8\" height=\"54.0\" rx=\"27.0\" ry=\"27.0\" fill=\"#FAF4E8\" stroke=\"#8B6914\" stroke-width=\"1.2\" \/>\n<circle cx=\"320.6\" cy=\"6827\" r=\"4.5\" fill=\"#8B6914\" \/>\n<text x=\"340.6\" y=\"6832\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14.5\" font-weight=\"normal\" fill=\"#412402\">Koykan’s reach extends across Europe and into selected markets beyond it.<\/text>\n<line x1=\"620.0\" y1=\"6856\" x2=\"620.0\" y2=\"6896\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"1 6\" opacity=\"0.55\" \/>\n<line x1=\"92.0\" y1=\"7102\" x2=\"124.0\" y2=\"7102\" stroke=\"#0F6E56\" stroke-width=\"1.4\" stroke-linecap=\"round\" opacity=\"0.5\" \/>\n<rect x=\"124.0\" y=\"6898\" width=\"1056.0\" height=\"408.0\" rx=\"18\" ry=\"18\" fill=\"#F0FAF6\" stroke=\"#0F6E56\" stroke-width=\"1.1\" \/>\n<circle cx=\"168\" cy=\"6944\" r=\"22\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1.3\" \/>\n<g fill=\"none\" stroke=\"#0F6E56\" stroke-width=\"2.3\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><g transform=\"translate(0,314)\"><path d=\"M 168 6643.0 c -8 -10 -10 -14 -10 -19 a 10 10 0 0 1 20 0 c 0 5 -2 9 -10 19 z\" \/><\/g><circle cx=\"168\" cy=\"6938\" r=\"3.5\" \/><\/g>\n<text x=\"206.0\" y=\"6938\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"26\" font-weight=\"500\" fill=\"#04342C\">Where we go<\/text>\n<rect x=\"206.0\" y=\"6950\" width=\"46.0\" height=\"4.0\" rx=\"2\" ry=\"2\" fill=\"#0F6E56\" \/>\n<text x=\"206.0\" y=\"6974\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The European Union, then selected markets beyond<\/text>\n<rect x=\"164.0\" y=\"6994\" width=\"976.0\" height=\"190.0\" rx=\"12\" ry=\"12\" fill=\"#E1F5EE\" stroke=\"#0F6E56\" stroke-width=\"1\" \/>\n<text x=\"188.0\" y=\"7028\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"17\" font-weight=\"500\" fill=\"#04342C\">The whole European Union is the most important horizon<\/text>\n<text x=\"188.0\" y=\"7054\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#5F5E5A\">The immediate focus is where Koykan is the strongest – the region where it already operates and the markets around it.<\/text>\n<text x=\"188.0\" y=\"7102\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12\" font-weight=\"500\" fill=\"#04342C\">Already operating<\/text>\n<rect x=\"296.0\" y=\"7082\" width=\"83.4\" height=\"30\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1\" \/>\n<text x=\"337.7\" y=\"7102\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Germany<\/text>\n<rect x=\"391.4\" y=\"7082\" width=\"83.4\" height=\"30\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1\" \/>\n<text x=\"433.1\" y=\"7102\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Czechia<\/text>\n<rect x=\"486.8\" y=\"7082\" width=\"91.6\" height=\"30\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1\" \/>\n<text x=\"532.6\" y=\"7102\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Slovakia<\/text>\n<rect x=\"590.4\" y=\"7082\" width=\"83.4\" height=\"30\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1\" \/>\n<text x=\"632.1\" y=\"7102\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Croatia<\/text>\n<text x=\"188.0\" y=\"7152\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"12\" font-weight=\"500\" fill=\"#5F5E5A\">Neighbouring markets<\/text>\n<rect x=\"319.0\" y=\"7132\" width=\"83.4\" height=\"30\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1\" stroke-dasharray=\"3 3\" \/>\n<text x=\"360.7\" y=\"7152\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Austria<\/text>\n<rect x=\"414.4\" y=\"7132\" width=\"83.4\" height=\"30\" rx=\"8\" ry=\"8\" fill=\"#FFFFFF\" stroke=\"#0F6E56\" stroke-width=\"1\" stroke-dasharray=\"3 3\" \/>\n<text x=\"456.1\" y=\"7152\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"13.5\" font-weight=\"normal\" fill=\"#0F6E56\" text-anchor=\"middle\">Hungary<\/text>\n<text x=\"164.0\" y=\"7228\" 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text-anchor=\"middle\">Koykan owns the brand and the system, partners build and run the restaurants and the capital<\/text>\n<text x=\"620.0\" y=\"7490\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"21\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">that builds each restaurant returns to finance the next.<\/text>\n<line x1=\"70.0\" y1=\"470.5\" x2=\"70.0\" y2=\"7102\" stroke=\"#8B6914\" stroke-width=\"1.6\" stroke-linecap=\"round\" stroke-dasharray=\"2 8\" opacity=\"0.4\" \/>\n<circle cx=\"70\" cy=\"470.5\" r=\"17\" fill=\"#0F6E56\" \/>\n<text x=\"70.0\" y=\"476.5\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">1<\/text>\n<circle cx=\"70\" cy=\"1073.5\" r=\"17\" fill=\"#534AB7\" \/>\n<text x=\"70.0\" y=\"1079.5\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#FFFFFF\" 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text-anchor=\"middle\">10<\/text>\n<circle cx=\"70\" cy=\"6563\" r=\"17\" fill=\"#534AB7\" \/>\n<text x=\"70.0\" y=\"6569\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">11<\/text>\n<circle cx=\"70\" cy=\"7102\" r=\"17\" fill=\"#0F6E56\" \/>\n<text x=\"70.0\" y=\"7108\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#FFFFFF\" text-anchor=\"middle\">12<\/text>\n<line x1=\"124.0\" y1=\"7566\" x2=\"1180.0\" y2=\"7566\" stroke=\"#E8E6DE\" stroke-width=\"1.4\" stroke-linecap=\"round\" \/>\n<text x=\"124.0\" y=\"7598\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"16\" font-weight=\"500\" fill=\"#8B6914\">Koykan Capital and Expansion Platform<\/text>\n<text x=\"124.0\" y=\"7621\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"14\" font-weight=\"normal\" fill=\"#5F5E5A\">Company and model overview – who we are, what we do and how we grow<\/text>\n<text x=\"1180.0\" y=\"7598\" font-family=\"Arial, 'Helvetica Neue', Helvetica, sans-serif\" font-size=\"15\" font-weight=\"normal\" fill=\"#5F5E5A\" text-anchor=\"end\">koykan – stay hungry for more<\/text>\n<\/svg><\/div>\n<\/body>\n<\/html>","protected":false},"excerpt":{"rendered":"<p>Koykan – Company & Model Overview koykan – looking forward, 2026 and beyond Koykan – company & model overview A European street-food brand that grows through local partners and a coordinated capital structure Who we are, what we do and how we grow stay hungry for more Who we are A proven operating system across 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