LEADING FOOD M&A ADVISOR

MATTERLING is a trusted M&A advisor for transactions in the food & beverage sector in the German speaking region. We firmly believe that our sector focus and dedication is fundamental in our clients’ success. Our clients benefit from our in-depth and up-to-date industry knowledge, our leading advisory track record, our global relationships with investors, buyers and targets, and our hands-on, senior-led advice.

Deals

MATTERLING has been involved in a wide variety of transactions in the food & beverage sector across Europe, working with many leading companies, high-profile brands and exceptional entrepreneurs. Our team has closed over 50 transactions. Selected references below.

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Adrian Fröhling

Adrian Fröhling

FOUNDER AND PARTNER
Erol Kaynak

Erol Kaynak

PARTNER (ASSOCIATED)
Adrian Fröhling

Adrian Fröhling

FOUNDER AND PARTNER

Hello

I’m Adrian Fröhling, a food M&A specialist based in Frankfurt. I’m founder and partner of MATTERLING.

After growing up in Karlsruhe, I studied in London, Paris and Frankfurt and hold a Bachelor’s Degree in Business Administration and a Master’s Degree in Banking & Finance.

My career began in 2003 at the Swiss investment bank UBS in Frankfurt. Following further M&A roles at ABN AMRO Bank/RBS and Kepler Cheuvreux, I went on to start my own entrepreneurial journey. I was amongst the founding team and co-head of M&A boutique Pericap AG in 2013 and co-founded MATTERLING in 2016.

During my career, I have advised on more than 50 domestic and cross-border M&A transactions, spanning from company successions, corporate divestitures or strategic acquisitions to initial public offerings or funding rounds of emerging growth companies.

I have more than 20 years experience in M&A advisory of which 10 years dedicated to the food & beverage sector. I have built up extensive sector expertise and worked with clients that touch every aspect of the food value chain and cover a wide variety of business models. I am in regular interaction with a wide range of leading market participants, which helps me to drive my better understanding of key market trends and help me cultivate my excellent, international network of personal contacts in the food & beverages industry.

Since 2022, I am also Board Member of Nasdaq Nordic listed company OrderYOYO, based in Copenhagen, Denmark, that is the market leading European online ordering, payment, and marketing software solution provider for takeaway restaurants.

Moreover, I’m an active (seed-stage) angel investor in the food and foodtech sector. Investments include Arkeon, Bright Biotech, Forsea Foods, Nom Nom Nom and Heldenbrot.

In my spare time I’m a passionate tennis player and like skiing, travelling and spending time with my family.

Erol Kaynak

Erol Kaynak

PARTNER (ASSOCIATED)

Hello

I’m Erol Kaynak, a food M&A specialist based in Munich. I’m managing director of Kaynak & Company and a partner (associated) of MATTERLING since 2020.

I have almost 15 years of professional experience, of which about 10 years in M&A advisory and around 5 years in the food & beverage and retail industries.

I grew up in the Upper Bavarian town of Miesbach and completed my studies in Business Administration (Diplom-Kaufmann) at the University of Bayreuth as well as the University of Lincoln, USA

I started my career in 2008 at the British investment bank Close Brothers (now DC Advisory) in Frankfurt. In 2010, I was co-founder and co-head of the Distressed M&A department at Rödl & Partner in Frankfurt, having advised on more than 20 transactions until 2015.

In 2015, I co-founded the food start-up myCHIPSBOX and have experienced what it means to build up from scratch an own production site according to IFS certification, to organize an international supply chain in the organic food segment and to work directly with both the conventional retail and organic specialty trade.

After this entrepreneurial time I decided to gain experience at large food corporates and worked as Senior Professional in the Business Development and M&A/Venturing department at SCHWARZ Group in Neckarsulm (holding company of LIDL & KAUFLAND) and afterwards as Senior Project Manager in the Business Development/M&A department at Nestlè in Frankfurt.

In my spare time, I’m a family guy and a soccer enthusiast. And as son of restaurateurs, I’m also a passionate cook and food lover.

MAJORITY ACQUISITION OF DR. KARG’S BY COLUSSI

MATTERLING advised on the majority acquisition of Dr. Klaus Karg KG, a German family-owned producer of healthy snacks, by Colussi, a leading Italian family-owned group of companies in the packaged food sector
MAJORITY ACQUISITION OF DR. KARG’S BY COLUSSI

On April 26, 2024, it was announced that Colussi S.p.A. (“Colussi”) acquired a majority stake in Dr. Klaus Karg KG (“Dr. Karg’s”), a German family-owned producer of healthy snacks.

Colussi is a traditional Italian family-owned business in the food sector that produces and distributes a range of both healthy and indulgent products, showcasing Italian expertise in the bakery, pasta, and chocolate categories. Dr. Karg’s is a leading producer of traditionally oven-baked crispbreads and other natural snacking products based in Schwabach, Germany.

As both companies move forward together, they remain firmly committed to their shared values, including integrity, reliability, quality, innovation, and customer satisfaction. The partnership between Dr. Karg’s and Colussi signals an exciting new chapter in their respective histories and reaffirms their commitment to delivering exceptional products to their valued customers.

Mr Giacomo Colussi, CEO of Colussi, commented: “Partnering with Dr. Karg’s is a natural fit for us building on our proven experience from years of international partnerships and joint ventures. Both of our families have built our businesses on a foundation of commitment and the striving for excellence, and together we have the opportunity to achieve greater success. We look forward to combining each other’s expertise to deliver exciting and delicious products to our customers.”

The partnership between Dr. Karg and the Colussi Group could solidify a leadership position in the health and wellness bakery snacking sectors across various markets. Furthermore, leveraging Dr. Karg’s market presence in Germany will aid in successfully introducing Colussi’s products, iconic symbol of the Italian expertise in both healthy and indulgent brands, to German consumers.

MATTERLING acted as exclusive financial adviser to Colussi on this transaction. Financial terms were not disclosed.

 

SALE OF PUREFOOD TO IS HOLDING

MATTERLING advised on the sale of purefood, the owner of well-established brands for organic and vegan foods, to IS Holding, a diversified Turkish conglomerate
SALE OF PUREFOOD TO IS HOLDING

On January 5, 2024, it was announced that the business of purefood GmbH was acquired by IS Holding, a diversified Turkish conglomerate.

Hamburg-based purefood sells sustainable and vegan foods in organic quality under the brands lycka, Stark and TEATOX®. Since its foundation in 2014, the B Corp certified company has initiated an own social project in Burundi, Africa, in close cooperation with Welthungerhilfe and donates with every product sold a fixed amount of money, allowing a child a school meal and the prospect of better education. IS Holding is a diversified Turkish conglomerate with more than 11,000 employees active in areas ranging from food, construction, energy to foreign trade. Among others, it owns Turkey’s leading dried nuts and fruits production company PEYMAN as well as the master franchise rights of KFC in Turkey and Pizza Hut in Turkey and Germany.

MATTERLING acted as exclusive sell-side adviser on this transaction. Financial terms were not disclosed.

MAJORITY SALE OF RIESA TEIGWAREN TO BIAVEST

MATTERLING advised on the majority sale of Riesa Teigwaren Group, one of the largest dry pasta manufacturer in Germany, to BiaVest, the Irish-based specialist food investment group
MAJORITY SALE OF RIESA TEIGWAREN TO BIAVEST

On September 29, 2023, BiaVest Ltd. (“BiaVest”) acquired an 80% stake in German-based pasta company Riesa Teigwaren GmbH (“Riesa Nudeln”) from the Freidler family, who also owns the ALB-GOLD Group, a leading traditional pasta producer situated on the Swabian Alb in Southern Germany. The Freidler family acquired Riesa Nudeln in 1992.

BiaVest was founded in 2021 by experienced food sector specialists Hilliard Lombard and David McKernan. The deal is BiaVest’s first continental Europe acquisition and becomes its fourth investment in just two years.

Riesa Nudeln has annual revenues in excess of 40 million euros and employs 150 people. It is based in Riesa in Saxony, Germany, and operates one of the largest dry pasta manufacturing facilities in Germany. It also has a pasta museum, restaurant, and shop, known as the Riesa Nudelcenter – at its manufacturing facility in Riesa – which attracts over 200,000 visitors per year. The Riesa brand has a strong presence among key German retailers such as Aldi, Lidl, Edeka, Rewe, Kaufland, Penny and Netto. The Company has an annual production capacity of 25,000 tonnes of pasta, with the current investment programme set to double its output to 50,000 tonnes, and the Company uses durum wheat sourced locally through strong local partnerships with farmers and mills.

Under the terms of the deal, BiaVest’s co-founder Hilliard Lombard and CFO Warren Codd will join the Riesa Nudeln board contributing their expertise to enhance the Company’s strategic direction and growth. André Freidler and Olivier Freidler, who own the remaining 20% of the Company, will continue with Riesa Nudeln in an advisory capacity. Mike Hennig will remain as CEO.

Hilliard Lombard, co-founder of BiaVest, said: “Riesa is a brand with a respected heritage and a proven provenance in Germany. Its track record of success is striking, as is its growth potential. The team has exciting plans to continue to expand and develop the business. We look forward to supporting this next phase and to work alongside Mike Hennig and his team and with our strategic partners – André and Oliver Freidler.”

André Freidler, Riesa Nudeln, said: “In BiaVest, we have found a capital-strong partner with a great deal of expertise to drive the brand business forward while at the same time leveraging the site’s existing potential. These considerations were very important to us in our choice of partner, and we are pleased to be able to continue to accompany the Company’s development in partnership with BiaVest.”

MATTERLING acted as exclusive financial adviser to Riesa Nudeln and its shareholders on this transaction. Financial terms were not disclosed.

MERGER OF app smart with orderyoyo

MATTERLING advised on the merger of app smart with OrderYOYO, listed on Nasdaq Copenhagen, creating the largest restaurant liberator in Europe
MERGER OF app smart with orderyoyo

On June 17, 2022, it was announced that OrderYOYO A/S is joining forces with app smart GmbH, a market leader for shop systems and market leading in POS systems and digital infrastructure for delivery restaurants in Germany and Austria. OrderYOYO acquires app smart and the app smart shareholders become shareholders in OrderYOYO.

The OrderYOYO and app smart combination creates the largest restaurant liberator in Europe, servicing more than 9,000 Restaurant Partners. It combines two market leaders and extends the number of market leading positions in Europe from three to five and creates the European market leader from day one. OrderYOYO and app smart have a strong strategic match with completely aligned vision and mission, market focus and business model, and with no geographic overlap. The combined company will be market leader in the two largest takeaway markets in Europe, UK and Germany. Furthermore, the combined company will be well positioned for continued expansion and for driving further industry consolidation.

Jesper Johansen, CEO OrderYOYO, says: “We are excited to join forces with app smart and are truly impressed of what the founders and employees have built since 2014 to claim leadership in Germany and Austria. app smart is the perfect match for OrderYOYO with a completely aligned vision and mission, market focus and business model. Combining OrderYOYO and app smart create a true European market leader from day 1 with an exciting combined joint potential. At the same time, the combined company is well positioned for further expansion and to drive further industry Consolidation.”

The transaction values the share capital of app smart at DKK 222m (approx. EUR 30m), which is financed via issuance of new shares in OrderYOYO to the sellers and a cash payment. MATTERLING acted as exclusive financial adviser to app smart and its shareholders on this transaction.

MAJORITY SALE OF SCHOCK TO LSH

MATTERLING advised on the majority sale of Schock GmbH, a leading German solution provider for private label snack bar products, to Laurens Spethmann Holding, a leading German, fourth-generation family-owned food company
MAJORITY SALE OF SCHOCK TO LSH

In October 2021, Laurens Spethmann Holding (“LSH”) acquired a majority stake in Schock GmbH (“Schock”). Schock is based in Ludwigsburg, Germany. It is a leading German solution provider for private label snack bar products and is specialized in providing highly customized, innovative and healthy snack bar products within a wide range of different flavors, dietaries, functionalities, cuts and packaging formats.

LSH is an independent, fourth-generation family-owned company headquartered in Seevetal near Hamburg, Germany, with sales of around 700 million euros. LSH is active in Germany and throughout Europe in the business areas of tea, bars, snacks, sweeteners, cereals, nuts, dried fruits and seeds, and sustainable packaging.

MATTERLING acted as exclusive financial adviser to Schock and its shareholder on this transaction. Financial terms were not disclosed.

Partial sale of followfood to Summiteer

MATTERLING advised on the partial sale of followfood, the German market leader for organic and sustainable fish, to Summiteer, the investment holding of greentech investor Sven Schulz
Partial sale of followfood to Summiteer

On September 2, 2021, it was announced that Summiteer, the investment holding of Sven Schulz, has acquired approx. 29% of the shares of followfood GmbH. Schulz is the founder of AKASOL AG, a pioneer and European market leader for e-mobility battery systems, which he successfully sold to a strategic investor from the USA at the beginning of 2021. The two founders Harri Butsch and Jürg Knoll remain majority shareholders of followfood. Together, the sustainable food producer and Sven Schulz want to make followfood the leading brand in Europe that stands for ecological transformation.

followfood’s revenue amounted to over 73 million euros in 2020 with more than 90 products mainly sold both in the conventional and organic specialty trade in Germany. The company has been growing at double-digit rates for years. In addition to being the first German food brand introducing a tracking code on the packaging, innovations that changed the industry include canned tuna caught by hand fishing, the introduction of the first fair trade tuna in Europe, the establishment of the Soil Saving Fund to promote regenerative agriculture, and that followfood and all its products have been climate neutral since the beginning of 2021. In July 2021, followfood was ranked 7th in the ranking of the most innovative German medium-sized companies by the magazine Wirtschaftswoche and the consultancy Munich Strategy.

MATTERLING acted as exclusive financial adviser to followfood and its shareholders on this transaction. Financial terms were not disclosed.

Fundraising and exit of fresh five* premiumfood

MATTERLING advised on two financing rounds and the exit of fresh five* premiumfood GmbH (KISSYO brand),a leading organic ice cream company in D/A/CH

On February 1, 2022, it was announced that the business of fresh five* premiumfood GmbH was acquired by followfood GmbH, the German market leader for organic and sustainable frozen food.

fresh five* premiumfood GmbH was founded by Lutz Haufe in 2011. Starting as a solution provider for frozen yoghurt and demeter ice cream products, the Company is now exclusively focusing on its young and authentic organic KISSYO brand with a strong product offering and high growth trajectory. KISSYO offers a 100% organic assortment including demeter, yoghurt-based, sugar-reduced, and vegan ice cream products. The Company is based in Heilbronn and has a staff of around 25 employees.

The Company had raised seed funding from QC Ventures, the venture capital arm of boutique investment firm Q·ADVISERS based in Vienna, in 2016 and secured additional funds from the Vaillant family office (JOVA Invest) in the Series A round in 2018.

MATTERLING acted as financial adviser on these transactions. Financial terms were not disclosed.

PARTIAL SALE and Majority sale of lotao

MATTERLING advised on two sale transactions relating to LPP Lotao Pack- und Produktions GmbH, a leading producer of organic, plant-based food specialties.

In November 2021, Zertus, one of the oldest family companies in Germany that acts as an international group of companies operating in the food sector with seven independently operating subsidiaries that produce and market high-quality foods, acquired a majority stake in LPP Lotao Pack- und Produktions GmbH („Lotao“). Prior to that, in July 2018, the Braun Beteiligungs GmbH, the family office of Norbert and Dagmar Braun, acquired a 50% stake in Lotao.

Founded in 2011, Lotao stands for vegan, sustainable and high-quality organic products and makes forgotten culinary treasures accessible to food lovers in Europe. The Company’s product assortment includes rice and coconut specialties as well as exotic snacks made from snake fruit or jackfruit. The company employs around 30 people at its sites in Berlin and Neustadt Glewe (production).

MATTERLING acted as financial adviser on these transactions. Financial terms were not disclosed.

sale of PURYA TO BIOVEGAN

MATTERLING advised on the sale of PURYA GmbH, one of the pioneers in the segment for organic plant-based sport nutrition in Germany to Biovegan GmbH, a company that specializes in organic vegan products
sale of PURYA TO BIOVEGAN

In July 2021, it was announced that Biovegan GmbH, a company based in Bonefeld that specialises in organic vegan products, has acquired all the shares in Hamburg-based PURYA GmbH, a manufacturer of organic vegan sport nutrition. The acquisition of PURYA supports Biovegan’s growth strategy while providing it with access to a new product group. Last year, 100% of the shares in Biovegan GmbH were acquired by Finexx, a private equity firm with offices in Stuttgart.

PURYA was founded by ex-golf pro Timo Lehnert and his wife Britta in 2016. The Company sells organic vegan protein and superfoods intended for athletes and healthy organic cuisine. Its protein products including drinks, bars and shakes are formulated using vegan alternatives.

MATTERLING acted as exclusive financial adviser to PURYA and its shareholders on this transaction. Financial terms were not disclosed.

sale of LE SHOP VEGAN TO INVESTOR CONSORTIUM

MATTERLING advised on the sale of Le Shop Vegan, a leading online store for vegan fashion & lifestyle to an investor consortium
sale of LE SHOP VEGAN TO INVESTOR CONSORTIUM

Our client sold Le Shop Vegan (www.leshopvegan.de), a leading, content-strong and profitable online store in the booming niche for vegan fashion & lifestyle, to an investor consortium.

The online store for vegan bags, fashion and cosmetics includes an assortment of about 13,000 items. Over 50 top brands, such as Veja, Embassy of Bricks and Logs, Freibeutler, People Tree and MATT & NAT can be found in the assortment.Le Shop Vegan has seen continuous growth since its founding in 2015.

MATTERLING acted as exclusive financial adviser to the shareholder of Le Shop Vegan on this transaction. Financial terms were not disclosed.

Investment in Roast Market by Melitta Group

MATTERLING advised on the minority investment in Roast Market, the leading German online retailer for coffee, by Melitta Group, a leading international coffee company and one of the leading independent family businesses in Germany.
Investment in Roast Market by Melitta Group

On June 19, 2019, it was announced that Melitta Group, a leading international coffee company and one of the leading independent family businesses in Germany with annual sales of more than 1.5 billion euros, has acquired 25.5% of the shares of Roast Market GmbH. Existing shareholders include the two founders Dr. Boris Häfele and Philip Müller, Hubert Burda Media, a leading German media group, and several angel investors.

Roast Market was founded in 2015 and is the leading German online retailer for coffee. It offers an excellent shopping experience, professional customer service and a large product assortment comprising more than 1,500 products from more than 80 (third-party) brands.

MATTERLING acted as financial adviser to Roast Market GmbH on this transaction. Financial terms were not disclosed.

On August 1, 2021, Melitta Group acquired a majority stake in Roast Market.

Fundraising of GRILLIDO LED BY BUSINESS ANGELS AND STRATEGIC INVESTOR

MATTERLING advised on the fundraising round of Grillido, a Munich-based German meat (snack) company, led by business angels and a strategic investor
Fundraising of GRILLIDO LED BY BUSINESS ANGELS AND STRATEGIC INVESTOR

In December 2018, Grillido received an investment led by business angels and a strategic investor.

Grillido (www.grillido.de) is a young, sporty and innovative meat brand that has been able to generate strong visibility in the German market since its foundation in 2015. The Company sells innovative meat products that address current food trends such as healthy and authentic nutrition, high-quality, no additives/all natural, less fat, rich in protein, convenience etc.

Grillido’s unique positioning is also manifested through its sales strategy as it is strong in the online and fitness channels – sales channels in which meat companies had not been very present in the past.

MATTERLING acted as financial adviser to Grillido on this transaction. Financial terms were not disclosed.

Fundraising of GOODLIFE COMPANY (HEJ NATURAL)

MATTERLING advised on the fundraising round of Goodlife Company, a Hamburg-based, fast growing producer of lifestyle snacks, led by two family offices
Fundraising of GOODLIFE COMPANY (HEJ NATURAL)

In June 2019, Goodlife Company received an investment led by two family offices.

In 2014, Jannik and Julius, the two company founders, started www.protein-projekt.de, an online lifestyle shop for sports nutrition products. Two years later, they launched HEJ Nutrition, their own lifestyle brand for healthy snacking that today represents the strategic focus of Goodlife Company. HEJ offers an innovative product portfolio for a healthy lifestyle, including the Hejbite, a natural nut bar that is made of 100% natural ingredients, the Hejbar, a protein bar with an amazingly clean nutrition profile, and HEJ Natural Whey Protein and Protein Vegan powders.

Goodlife Company has a deep connection with millennials through social media. Among others, it has established close partnerships with leading influencers such as Pamela Reif that have an extraordinary coverage of the company’s target customer group. This strong digital footprint is also reflected in a high share of online revenue. Since 2017, the company is also selling HEJ products in the offline retail channel.

MATTERLING acted as financial adviser to Goodlife Company on this transaction. Financial terms were not disclosed.

Acquisition of al dente pasta company by alb-gold teigwaren

MATTERLING advised on the acquisition of Al Dente Pasta Company, one of America’s premiere brands of specialty pastas, by ALB-GOLD Teigwaren GmbH, a leading German pasta manufacturer
Acquisition of al dente pasta company by alb-gold teigwaren

On April 6, 2018, it was announced that ALB-GOLD Teigwaren GmbH acquires the U.S. pasta manufacturer Al Dente Pasta Company based in Whitmore Lake, Michigan.

Founded in 1981, Al Dente produces nearly 470 tons of pasta annually. The company sells its products mainly in the U.S. and Canada in supermarket chains, independent retail chains, natural food retailers, specialty stores and online. The most important feature of all Al Dente products is the short cooking time of just three minutes.

ALB-GOLD, together with its subsidiaries Teigwaren Riesa in Saxony and Spaichinger Nudelmacher at the foot of the Swabian Alb, is one of the leading pasta manufacturers in Germany. The group employs around 400 people and generates annual sales of around 90 million euros.

MATTERLING acted as financial adviser to ALB-GOLD on this transaction. Financial terms were not disclosed.

Fundraising of SEICHA LED BY SQUARE ONE FOODS

MATTERLING advised on the fundraising round of Seicha, a matcha drinks company, led by Square One Foods, a food and foodtech VC based in Austria
Fundraising of SEICHA LED BY SQUARE ONE FOODS

In February 2018, Seicha received an investment led by Square One Foods, a food and foodtech VC based in Austria.

Seicha is a young, growing start-up with a focus on innovative, tea-based matcha drinks. The company was founded in 2015 by the Böning brothers and is based in Hamburg. Matcha tea is a top trend in superfoods, has a very high antioxidant content and a much longer caffeine effect compared to coffee. Good national listings have already been gained and strong international sales cooperations have been concluded. The proof of concept was successfully presented and the basis for scaling was created.

MATTERLING acted as financial adviser to Seicha on this transaction. Financial terms were not disclosed.

Fundraising of MYCHIPSBOX LED BY FAMILY OFFICE

MATTERLING advised on the fundraising round of myChipsBox, a Munich-based, healthy snack company, led by a family office
Fundraising of MYCHIPSBOX LED BY FAMILY OFFICE

In June 2017, myChipsBox received an investment led by a family office.

Founded in 2014, my CHIPSBOX sells so-called Organic-Chips-Duets made from potato chips and air dried vegetable and fruits in organic quality – all vegan, gluten-free and without any artificial flavor enhancers. The Company sees itself as driver of innovation and quality in the German snack market. It is the first to rigorously follow the sustained trend of healthy eating in respect of potato chips. In the meantime, its “chips creations” come in 6 different flavors incl. courgetti, beets, curry and pineapple in an elegant box. The innovative packaging adds a strong impulse and clear differentiation in the store shelves.

The two founders attended the very popular German TV show “Die Höhle der Löwen“ (similar to US show Shark Tank) in October 2016. This has resulted in a high brand awareness combined with a massive expansion of market presence in retail stores.

MATTERLING acted as financial adviser to myChipsBox on this transaction. Financial terms were not disclosed.

sale of A LEADING plant-based meat substitutes COMPANY

MATTERLING advised on the sale of one of the pioneers in the segment for vegan food products in Germany to a strategic buyer
sale of A LEADING plant-based meat substitutes COMPANY

Our client is a leading German pioneer for vegan food products (the “Company”). It sells a focused range of innovative and must-have products, mainly plant-based meat substitutes, in the food retail (LEH) as well as in its own vegan online shop and wholesale business.

The Company was acquired by a strategic buyer. The transaction was not publicly disclosed. MATTERLING acted as exclusive financial adviser to the Company and its shareholders on this transaction.

Fundraising of VEGANZ led by KATJes greenfood

MATTERLING advised on the fundraising of Veganz, a leading consumer brand for plant-based food in the German-speaking region, led by Katjes Greenfood, one of Europe's first impact investor in the rapidly growing market for sustainable food brands
Fundraising of VEGANZ led by KATJes greenfood

In September 2016, Veganz received an investment led by Katjes Greenfood, a legally independent investment company of the Katjes Group and one of Europe’s first impact investor in the rapidly growing market for sustainable food brands. The funding round, which also includes a few business angels, will support Veganz in its next phase of accelerated growth.

Veganz has been one of the pioneers in developing the vegan food space in Germany. Founded by Jan Bredack in Berlin in 2011, Veganz quickly became the world’s first vegan specialty grocery chain, offering a full, all vegan product range. Starting in 2015, Veganz has shifted its strategic focus from being a retailer to building a leading consumer brand for vegan food, capitalizing on its unique brand awareness, its intimate market insights and its broad channel access. It has become the “category captain” for vegan food products in the German-speaking region, offering almost 160 different SKUs across many sub-categories, with sweets & snacks being the most important sub-category.

MATTERLING acted as financial adviser to Veganz on this transaction. Financial terms were not disclosed.

On November 10, 2021, Veganz completed a successful IPO in Frankfurt and is thus the first purely plant-based vegan food manufacturer to be listed on a European stock exchange.

Fundraising of HAFERVOLL LED by strategic investor

We advised on the fundraising round of Hafervoll, a young, high-growth healthy snacking company, led by an undisclosed strategic investor
Fundraising of HAFERVOLL LED by strategic investor

In January 2016, Hafervoll received an investment led by an undisclosed strategic investor.

Hafervoll, founded by Phil & Rob in 2013, is a young German growth company based in Cologne, Germany, that is aiming to become the European category leader for healthy bars, with a proven capability to successfully develop and distribute innovative products, such as the company’s successful lead product, the HAFERVOLL Flapjack, a handmade, oven-baked bar based solely on natural ingredients. Hafervoll offers simple, honest and healthy bars with great taste and high nutritious value – in contrast to many traditional muesli bars with a natural claim but very comprehensive (chemical) ingredients list.

We acted as financial adviser to Hafervoll on this transaction. Financial terms were not disclosed.

On March 29, 2019, the HNC Healthy Nutrition Company GmbH, a wholly owned subsidiary of KRÜGER GmbH & Co. KG that specializes in sports nutrition and healthy snacks, announced the acquisition of Hafervoll.

Investment in mymuesli by genui

We advised on the minority investment in mymuesli, the leading multi-channel supplier of organic premium mueslis, by GENUI, a Hamburg-based private equity investment firm
Investment in mymuesli by genui

In January 2016, it was announced that GENUI, a Hamburg-based private equity investment firm, has acquired 30% of the shares of mymuesli GmbH.

mymuesli was founded by three students Hubertus, Philipp and Max in 2007, based on the idea to provide everyone their own Lieblingsmuesli. Without any external (equity) funding they have been
able to build a successful brand with a unique business model and a track record of high organic growth. mymuesli is the pioneer in customized muesli worldwide and the leading multi-channel supplier of organic premium mueslis and adjacent products in the German-speaking region.

We acted as financial adviser to mymuesli and its shareholders on this transaction. Financial terms were not disclosed.

Fundraising of Just Spices led by döhler ventures

We advised on the fundraising of Just Spices, a young, high-growth spice company, led by Döhler Ventures, a leading global investor in early-stage startups
Fundraising of Just Spices led by döhler ventures

In August 2015, Just Spices received an investment led by Döhler Ventures, a leading global investor in early-stage startups and corporate VC of Döhler, one of the world’s leading producers of natural ingredients for the food and beverage industry.

Just Spices is a young, high-growth spice company based in Dusseldorf, Germany, that sells a broad selection of pure spices and unique spice blends. The founding team – Florian, Ole & Bela – aims to build the largest vertical food brand in Europe that sells high-quality spices via its online shop as well as through retail stores. Based on its innovative spice mixes, its young, authentic brand with effective storytelling, its strong digital presence, and its multi-channel sales strategy, Just Spices is emotionalizing the spice market and challenging the“old-economy” players in the German retail shelves.

We acted as financial adviser to Just Spices on this transaction. Financial terms were not disclosed.

On December 10, 2021, The Kraft Heinz Company, the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world, announced the acquisition of a majority stake in Just Spices.