McWin to take big bite of L’Osteria at €400m valuation

The acquisition will help the firm to further accelerate its growth in Europe, according to the companies.

  • L’Osteria founders Klaus Rader and Friedemann Findeis to remain significant minority shareholders
  • The transaction is expected to close in the first quarter of 2023
  • The €525 million McWin Restaurant Fund is making the investment

McWin has agreed to acquire a major stake in FR L’Osteria, a casual dining operator in Germany and Austria, valuing the company at around €400 million.

L’Osteria, established in 1999, operates 157 stores with more than 6,000 employees across the DACH region, UK, France, Luxembourg, the Netherlands and the Czech Republic. It is headquartered in Munich.

The transaction is expected to support the firm’s growth in Germany and in new and existing markets across Europe.

The deal, which is subject to customary regulatory requirements, will likely close in Q1 2023.

Klaus Rader and Friedemann Findeis, founders of L’Osteria, will remain significant minority shareholders.

“The leadership team has achieved many admirable milestones, opening more than 100 restaurants in Germany, successful expansion into seven further international markets, adept navigation of covid and a market-leading recovery that followed it,” said Harry Goss, partner and head of food service at McWin.

This investment is expected to be important for the €525 million McWin Restaurant Fund (MRF), which was launched in August.

Additionally, L’Osteria’s acquisition will take the total number of restaurants in McWin’s portfolio to more than 1,500.

Bryan Cave Leighton Paisner and KPMG served as legal and financial advisors, respectively, for McWin in the transaction.

McWin is a private investment firm that partners with founders and CEOs looking to disrupt their markets, principally in food service and food technology. It is headquartered in Prague and has assets under management of more than €1 billion. The firm has hubs in the UK, Spain and Poland, and teams on the ground in seven countries.