Carlsquare advised Irish food-investment group BiaVest on its acquisition of an 80% stake in Riesa Nudeln
Carlsquare advised family-financed food-investment group BiaVest Ltd. on its acquisition of an 80% stake in Teigwaren Riesa GmbH (“Riesa Nudeln”), the top-selling pasta brand in 6 out of 16 German states and whose annual revenue exceeds €40 million.
BiaVest was founded in 2021 by food-sector specialists Hilliard Lombard and David McKernan. The transaction, BiaVest’s fourth major investment in less than two years and its first acquisition in continental Europe, gives the buy & build investor a platform to create a leading ambient pan-European food branded business. Riesa Nudeln will take its place in the BiaVest portfolio alongside leading convenience & snacking supplier Nomadic, fresh-doughnut vendor Offbeat Donuts and award-winning “better for you” brand Nobó.
Riesa Nudeln, which has been making dry pasta ever since 1914, annually produces 25,000 tonnes of pasta. All Riesa Nudeln products are manufactured in the company’s own facility in Riesa, Saxony. Riesa Nudeln has a strong presence across key German retailers such as Aldi, Lidl, Edeka, Rewe, Kaufland, Penny and Netto. The pasta company also has a strong online presence and its own webshop.
Thanks to BiaVest’s support, Riesa Nudeln will be able to double its annual pasta output to 50,000 tonnes. That increase is partly due to a €4 million investment in a new production line for spätzle, a German specialty pasta. The investment in the new line will generate an estimated €15 million in additional annual revenue. BiaVest will also facilitate Riesa Nudeln’s expansion into new markets, including through further acquisitions.
Riesa Nudeln’s previous owners, André and Oliver Freidler, will retain a 20% stake in the company and continue to be involved in an advisory capacity. Mike Henning, the current CEO, will also remain on board together with his dedicated team of food professionals.
“This transaction is a resounding success for BiaVest. In our first acquisition on the European continent, we have found a highly respected brand whose management have exciting plans to expand and develop the business. Our thanks to Carlsquare for guiding us through the acquisition process. Once again, Arnold Holle and his team demonstrated their expertise in the food & beverage sector.” – Hilliard Lombard, co-founder, BiaVest
“In BiaVest, we have found a capital-rich partner with a great deal of expertise that will drive the brand business forward, while also leveraging the manufacturing site’s existing potential. These considerations were crucial in determining our choice of partner, and we are excited to work together with BiaVest to develop Riesa Nudeln.” – André Freidler, minority owner, Riesa Nudeln
Carlsquare served as the exclusive financial advisor to BiaVest.