Capital Management Partners acquires Geti Wilba

The transaction is expected to close in a few weeks' time and is subject to approval by the competition authorities, according to a statement.

Andreas Schulig, partner at CMP, will join the company's management team.

Christoph Morgen, partner at law firm Brinkmann & Partner, acted as insolvency administrator for the company. Geti Wilba filed for insolvency in February 2020.

The GP invested via CMP German Opportunity Fund III, which held a final close in April 2016 on €250m. It backs German Mittelstand companies in special or distressed situations that are experiencing liquidity, operational or balance sheet issues.

In 2008, Hannover Finanz backed Geti Wilba's MBO from previous owner Nestlé in an all-equity deal, which had acquired the company in 2001 via its acquisition of ice cream producer Schöller in 2001. The company reported turnover of €85m at the time of the sale.

Company
Geti Wilba is a food producer specialising in poultry, game and frozen ready meals. It is headquartered in Bremervörde and has a chicken processing site in Cuxhaven. Founded in 1984 via the merger of family-owned meat processing businesses Geti and Wilba, the company employs 550 staff, all of whom will be transferred in CMP's takeover, according to a statement. The company reported 2019 turnover of €82.4m, according to Northdata.

People
Capital Management Partners – Andreas Schulig (partner).
Geti Wilba – Detlev Weiler (managing director).

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• Topics
• Buyouts
• DACH
• Consumer
• Germany