Hannover Finanz invests in Sporternährung

CEO and founder Konrad Kreid will retain the remaining 70% of shares in the business.

The company will use the extra funding to open more branches in the DACH region. It estimates the market for sports nutrition in German-speaking countries to be worth €300m.

Sporternährung recorded sales in the eight-digit range according to the press release, but further financial details have not been disclosed.

The GP highlighted the sale of Runners Point for €72m to Foot Locker in May 2013 as evidence of its sector experience. Sporternährung joins cycling equipment retailer Simplon in Hannover Finanz's portfolio; the GP acquired Simplon in 2014.

Company
Sporternährung was founded in 1999 in Graz, Austria, and now has 39 facilities in the DACH region. It has grown rapidly since focusing on its online operations in 2004, according to the company's website. It sells to 300,000 customers, employs 100 people and generated an eight-digit turnover in 2016.

People
Hannover Finanz – Christina Silberberger (partner); Georg Krasser (investment manager); Martin Walka (partner).
Sporternährung Mitteregger – Konrad Kreid (CEO).

Advisers
Equity – Bluemont Consulting, Markus Fränkel (commercial due diligence); TJP Advisory & Management Services, Christian Hurek, Thomas Jungreithmeir (financial due diligence, tax); WMWP Rechtsanwälte, Robert Winkler (legal).

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• Topics
• Buyouts
• DACH
• Consumer
• Minority investing
• Austria
• Hannover Finanz