Connexio acquires Rosenberger Restaurant

Christian Tomaschek, an executive and co-owner of Connexio, confirmed the deal in the German newspaper Der Standard. Connexio operates Connexio Alternative Investment & Holding, a private equity branch.

Financial details of the transaction remain undisclosed; however, the liabilities of the company were estimated at €13.3m when Austrian courts opened a restructuring process in December 2018. Unsecured liabilities amounted to €12.3m; €3.6m of the liabilities were owed to banks and a total of 448 employees.

The company’s revenues dropped from €41m in 2012, the year prior to the buyout, to €33m in 2017, according to KSV, an Austrian credit protection association.

A spokesperson from Connexio told Der Standard that it planned to restructure the company while maintaining its positive brand essence. The liquidator closed one of the sites in early January.

Tomaschek has estimated that Rosenberger Restaurant will need almost €11m to reposition itself.

Company
Founded in 1972 and based in Loosdorf, Austria, Rosenberger Restaurant operates 17 service stations, three hotels, six conference centres and 16 shops. The company is active in catering as well as in the hotels, conventions, and seminars sectors.

People
Connexio - Christian Tomaschek (executive and co-owner).

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• Topics
• Turnaround/Special Situations
• DACH
• Consumer
• Buyouts
• Austria
• Turnarounds