NETWORK awarded with Best of Consulting Award by WirtschaftsWoche
NETWORK awarded with Best of Consulting Award by WirtschaftsWoche!
We received the award for our holistic corporate finance mandate at the advising the family shareholders of H. von Allwörden. The multi-stage succession solution led to a 100% takeover of the company by Edeka Group. The prize is awarded by a high-calibre jury on the basis of a detailed project description and client survey, in which Network prevailed against numerous competition entries.
With approximately 2,500 employees and around 500 locations, the H. von Allwörden Group is the leading retail bakery in Northern Germany and one of the top 5 bakery chains in Germany. In the first phase of the multi-stage transaction, we advised our clients, the managing partners Ralf and Manfred von Allwörden, on an owner buyout of the third family tribe, which was fully financed by a corporate debt facility.
We then implemented a two-step succession solution. In a controlled auction process, the Edeka Group first acquired a minority stake of 45%. At the same time, H. von Allwörden acquired Edeka's bakery division Dallmeyers Backhus with a further 100 locations and successfully implemented a synergy and growth plan for the new group. Put options on the outstanding 55% with a variable purchase price mechanism enabled the shareholders to participate in the further growth.
In March 2022, Edeka Group fully took over the company and successfully completed the succession for the von Allwörden family shareholders.
Many thanks for the award. And many thanks to our clients who place so much trust in our work!
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