Pemberton provides financing to support FSN Capital’s acquisition of leading German bakery chain Bäcker Görtz
Overview
Pemberton, a leading alternative credit specialist, today announces that it has provided financing to support the acquisition of Bäcker Görtz, a leading bakery chain based in Germany, by a fund overseen by leading Northern European private equity investment firm, FSN Capital Partners.
Headquartered in Ludwigshafen, Germany, Bäcker Görtz, has been family-operated since 1963 and is now a leading producer and retailer for at-home and out-of-home bakery products. The company is the leading bakery chain in the Rhine-Neckar metropolitan region with a high-density branch network, focused on a region with two million inhabitants. Bäcker Görtz operates a network of around 200 bakery branches and a production facility of 5,000 sqm, employing 1,400 full-time employees. The company has revenues of around EUR 130 million and has grown revenues organically at a CAGR of 14% since 2006.
On completion of the acquisition, FSN Capital will become a majority shareholder and will look to accelerate the growth of the business both organically as well as through add-on acquisitions, while driving best practice operations and sustainability initiatives. Existing owners Peter and Frank Görtz will continue to operate as Co-CEOs and will retain a significant minority stake in the company.
Pemberton supported the acquisition of Bäcker Görtz through its Senior Loan strategy. The financing marks Pemberton’s second transaction with FSN Capital Partners.
We look forward to partnering with the founders, Peter and Frank Görtz, and FSN Capital Partners as they look to accelerate Bäcker Görtz’s organic growth and acquisition strategy. Its undisputed position, quality of customer service and track record of growth reflect the strength of the team Peter and Frank have built over the years. The Görtz system is unique, and the company is well-positioned to benefit from the opportunities in the current market environment.
– Adrian Grammerstorf, Executive Director of Origination, DACH
We look forward to help growing what is one of the most efficient, modern and profitable integrated bakery chains in Germany. We value the strong support of Pemberton, who bought into our strategy and were very instrumental in making this transaction happen.
– Robin Muerer, Co-Managing Partner of FSN Capital
