Arcus buys majority stake in BitterLiebe

The deal came about via Arcus's relationship with sell-side M&A adviser Montis Corporate Finance, a spokesperson for Arcus told Unquote.

BitterLiebe participated in TV series Die Höhle der Löwen, Germany's equivalent of Dragon's Den, in 2019.

Founders Andre Sierek and Jan Stratmann, as well as business angel Judith Williams, will retain a minority stake and will remain involved in the development of the business, Arcus said in a statement.

The GP intends to assist the company with the expansion of its product range, as well as its expansion to new markets beyond Germany.

Acquisition financing has been provided by Deutsche Bank, alongside mezzanine financing from BayBG, the spokesperson said.

Munich-headquartered Arcus Capital invests via its own capital and alongside co-investors on a deal-by-deal basis, generally investing in DACH-based companies with revenues of €10-150m. Its portfolio companies include sustainable child and baby products business Lässig, which it acquired in December 2019.

According to press reports from 2018, the company expected to generate revenues of around €2m in 2019. However, the company's 2019 revenues were greater than this, the spokesperson said, adding that the business is set to report revenues of more than €7m in 2020.

Company
Established in 2018 and based in Mannheim, BitterLiebe produces dietary supplements and flavourings with a bitter taste, with the intention of bringing this taste back into consumers' diets. The company claims that its bitter supplements can help to reduce cravings for sweets and improve digestion. Its products are sold via its own website, as well as via Amazon, Rossmann and DM in Germany.

People
Arcus Capital – Stefan Eishold (CEO).
BitterLiebe – Andre Sierek, Jan Stratmann (founders, managing directors).

Advisers
Equity – Gütt Olk Feldhaus (legal).
Vendor – Montis Corporate Finance (M&A).

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• Topics
• Buyouts
• DACH
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• Germany