Valora: completion of takeover of the food service company BackWerk
Valora successfully completed the acquisition of the German-based food service company BackWerk on 26 October 2017. Valora purchases BackWerk from the Swedish financial investor EQT. The purchase price for the complete takeover amounts to approximately EUR 190 million. The German Federal Cartel Office (Bundeskartellamt) has approved the acquisition without imposing any conditions.
BackWerk operates a franchise network comprising more than 340 branches in Germany, Austria, the Netherlands, Switzerland and Slovenia. The takeover will see Valora become one of the leading vertically integrated food service providers in Germany and enable it to tap into new growth potential in its core markets with attractive sales and margin synergies. Having completed its consolidation and business focus strategy, Valora is, as previously indicated, now investing in its international growth strategy.
The Swiss-based Valora Group has focused on its core business in recent years and is now a leading company in small-outlet retail units at heavily frequented locations in German-speaking Europe. It also has an integrated value chain from production to sales for pretzel and bakery products.