Deutsche Beteiligungs AG (DBAG) acquires via a management holding company in two parallel transactions the Germany based Abbelen GmbH and the UK based Oscar Mayer Ltd., two companies with combined revenues of c. 430 million euros active in the field of convenience food production. Network Corporate Finace has initialised both transactions and exclusively advised DBAG on the acquisition as well as debt advisory.
Transaction
Abbelen and Oscar Mayer were both family owned and managed businesses, where the individual MBO was the ideal solution for the planed succession. Although both companies will continue to be run separately, they are going to operate under one umbrella of a joint management holding company. The objective is to further build the companies’ product range and internationalise the group’s distribution activities more strongly. DBAG Fund VII will hold about 90 percent of the interests in the management holding company. The managers of the holding and senior executives of the group companies will hold the remaining shares.
Company
Abbelen with revenues of 140 million euros, is the largest private-label manufacturer of meatballs and ready-made burgers in Germany. The company produces convenience meat products in its state-of-the-art meat processing factory in Tönisvorst (North Rhine-Westphalia) and supplies all large supermarket and discounter chains in Germany and bordering countries.
For additional information on ABBELEN: www.abbelen.de
