P+P advises investor EQT on management participation in the sale of BackWerk to Valora

The private equity firm EQT has sold the bakery company BackWerk to the Swiss trade and logistics group Valora. Valora's portfolio already includes the pretzel baker Ditsch. BackWerk's company value, as determined for the purposes of this transaction, is approximately EUR 190 million. The transaction is still subject to the approval of the responsible antitrust authorities.

BackWerk is a franchise company headquartered in Essen. There are currently approximately 350 BackWerk branch stores in Germany, Austria, Switzerland and the Netherlands, with approximately 220 franchise partners in the network.

Hans-Christian Limmer and Dirk Schneider founded the company in 2001. EQT acquired a majority shareholding in BackWerk from the founders in 2014; both founding partners remained significant shareholders alongside EQT. They are also selling their shares to Valora in the course of the current sale.

The Munich-based P+P partner Dr. Barbara Koch-Schulte (private equity/M&A, tax, management advisor) advised EQT on the management participation within the scope of the transaction.