DBAG invests €80m to acquire Abbelen and Oscar Mayer

DBAG will use capital from its DBAG Fund VII vehicle and will use its top-up fund, which enables equity investments of up to €200m for a single transaction. The remaining stake will be held by management from the two companies.

The GP will inject €80m of equity for the first two acquisitions, of which €15m will come from DBAG directly in exchange for a 16% stake in the holding company.

The deal is the start of a buy-and-build strategy in which more add-on acquisitions are planned, in order to offer products across multiple markets. An increase in group revenues to more than €500m is targeted.

Company
Abbelen is a meatball and ready-made burger producer based in Tönivorst, Germany. The company supplies supermarket and discounter chains in Germany and bordering countries. It generates revenues of €140m, making it the largest private-label manufacturer of meat products in Germany, according to the GP.

Oscar Mayer is a chilled-meal and snack manufacturer based in the UK. The company supplies UK supermarkets and discounters such as Sainsbury’s, Morrisons and Aldi. Its revenues for 2015/16 were around £253m and it employs around 2,650 staff.

People
Deutsche Beteiligungs AG – Rolf Scheffels (board member).

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• Topics
• Buyouts
• DACH
• Consumer
• Germany
• United Kingdom
• Buy-and-build
• Deutsche Beteiligungs AG