The house owners of Germany-based sports activities diet trade The High quality Workforce have offered a majority stake to private-equity company CVC Capital Companions.
Founders Benjamin Burkhardt and Christian Wolf will retain a minority shareholding in The High quality Workforce (TQG) and feature agreed to reinvest within the trade as a part of the handle Luxembourg-based CVC.
Monetary phrases in the back of the transaction, which is predicted to near by means of the tip of the second one quarter, topic to regulatory approval, weren’t disclosed.
TQG used to be arrange past due in 2020 during the merger of sports activities diet corporations ESN and Extra Diet and serves the DACH markets – Germany, Austria and Switzerland. Different manufacturers inside the portfolio come with Fitmart, Got7 and Synergy encompassing protein powders, bars and snacks, together with dietary supplements and effort beverages.
CVC stated in a commentary it plans to “boost up the trade’s enlargement trail by means of scaling its logistics actions and bettering the buyer enjoy, in addition to increasing the product portfolio in each the DACH area and the world over”.
Germany-based Got7 Diet, a trade arrange in 2015, used to be received by means of TQG ultimate yr for an undisclosed sum.
TQG is headquartered in Elmshorn close to Hamburg and sells its merchandise on-line and thru retail shops comparable to Kaufland, Rewe and Edeka. The corporate employs 360 team of workers.
CVC is a assorted investor throughout a couple of industries. In meals, the private-equity company received Vivartia in 2020, a provider of dairy merchandise, rice and pasta in Spain. It additionally holds a majority stake in Spain-based branded olive oil manufacturer Deoleo. In Indonesia, CVC invested in biscuits and snacks maker Garudafood.
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