The restaurant chain L’Osteria is offered to an investor. The funding firm McWin is buying round two-thirds of the shares within the firm headquartered in Munich, either side introduced on Tuesday. The chain, which presents Italian meals within the center worth section, is valued at round 400 million euros within the transaction.
The L’Osteria founders Klaus Rader and Friedemann Findeis stay concerned as minority shareholders. Behind McWin are the 2 US buyers Henry McGovern and Steve Winegar, who’ve constructed up one of many largest European holding corporations for quick meals.
The sale will speed up the growth of the restaurant chain each in Germany and in different present and new markets, it mentioned. Founded in Nuremberg in 1999, L’Osteria has since expanded considerably – first in Germany, then in Austria and different international locations. The group operates 157 eating places in eight European international locations, together with 131 in Germany, and employs greater than 6,000 individuals. There was no data on the worth of the bulk stake.
Potential for market-leading restaurant group in Europe
“We strongly believe that L’Osteria has the potential to become the market-leading restaurant group in Europe,” mentioned McWin co-founder McGovern. The funding firm manages belongings of multiple billion euros and launched a fund value 525 million euros in August.
The stake in L’Osteria brings the entire variety of eating places in McWin’s portfolio to over 1,500. McWin acquired a majority stake in Burger King Germany on the finish of 2021 and can be concerned within the Dean & David chain and producers of other protein merchandise.
The investor’s experience ought to now profit L’Osteria. The firm desires to broaden to Poland this 12 months and in 2021 had set itself the objective of doubling key figures similar to gross sales, the variety of eating places and workers inside 5 years. Total gross sales in 2022 have been round 390 million euros – 51 % greater than in 2019.
