In July 2023, NoHo Partners and equity investor Intera Partners established Better Burger Society, a company targeting a leading position in the growing premium burger market in Europe. As part of the transaction, NoHo Partners’ share ownership in Friends&Brgrs acquired in 2020 was invested into the new company. The first acquisition of Better Burger Society was the Swiss premium burger chain Holy Cow!, which was acquired when Better Burger Society was founded in 2023.

In April 2025, NoHo Partners and Intera Partners agreed on an arrangement whereby Intera Partners increased its voting rights in Better Burger Society, which operates in the growing European premium burger market, with its convertible shares. As a result of the arrangement, NoHo Partners’ voting rights in Better Burger Society dropped to 49.6 per cent, with NoHo Partners continuing to be the largest owner of the company with a holding of 50.7 per cent. As of 1 April 2025, Better Burger Society has longer been NoHo Partners group’s subgroup, but is instead consolidated into NoHo Partners group as an associated company.

The share of associated company’s result based on holding will be recognised in NoHo Partners Plc’s financial income, thereby impacting the group’s earnings per share. NoHo Partners’ initial investment in 2020 was approx. MEUR 7, with which the company acquired a holding of approximately 70 per cent in the Friends&Brgrs chain. At the time of the separation in 2025, NoHo Partners’ share of the company measured at fair value was approximately MEUR 45. This means that the investment has generated MEUR 38 of value in five years.

Better Burger Society’s strategy is to continue to expand through acquisitions combining leading local premium burger brands in Europe with an efficient operational model and sourcing synergies. NoHo Partners continues to be an active owner and serves on the Board of Directors of Better Burger Society. Operational cooperation will also continue unchanged.