Dechert Advises the Shareholders of L'Osteria on Their Sale of a Majority Stake to McWin

Dechert LLP advised Friedemann Findeis and Klaus Rader as the sole shareholders of FR L'Osteria SE, a leading German and Austrian restaurant brand, on the sale of a majority stake to McWin, a private investment firm specializing in the foodservice and food technology sectors. The transaction values L’Osteria at approximately US$430 million. Founders Friedemann Findeis and Klaus Rader will both remain significant minority shareholders of the company. This new partnership with McWin will further support and accelerate the group’s expansion both in Germany and in multiple new and existing markets across Europe.

L'Osteria is a leading casual dining brand, serving high quality, affordable Italian food in 157 restaurants across eight European markets. This investment brings the number of restaurants in the portfolio of McWin and its affiliates to over 1,500 across Europe.

The transaction is subject to customary regulatory requirements and is expected to close in Q1 2023.

The Munich-based Dechert team leading the matter included corporate partners Federico G. Pappalardo (lead), Carina Klaes-Staudt, Giovanni Russo; corporate national partner Dr. Karl von Rumohr; corporate counsel Christian Böhme; and corporate associates Alexa Serafin, Dr. Philipp Schöfer, Florian Leitsbach and Anna Ziegler. The team also included Brussels/Frankfurt-based antitrust partner Clemens Graf York von Wartenburg, and associates Thirith von Doehren (Frankfurt) and Isabella Egetenmeir (Brussels).

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