Dublin-headquartered, food-focused investment firm, BiaVest, has acquired a majority stake in a German based pasta company.
The investment stake in Riesa Nudeln is the Dublin firm’s first continental Europe acquisition but its fourth investment in just two years.
BiaVest’s portfolio now includes its new German investment and also the snacking brand Nomadic, Offbeat Donuts and the food brand Nobó.
The Dublin investment firm was founded in 2021 by experienced food sector specialists, Hilliard Lombard and David McKernan.
According to BiaVest the Riesa Nudeln brand has a strong retail presence across a number of German retailers, including Aldi and Lidl and also has developed a strong online presence.
It currently has an annual production capacity of 25,000 tonnes of pasta and is completing a €4 million new production line for specialised pasta, spätzle. Its investment programme is expected to double its output to 50,000 tonnes of pasta.
Riesa Nudeln was previously part of the Alb-Gold, family owned business controlled by Irmgard, Oliver and André Freidler. The company has stressed the importance of its “direct partnerships” with farmers and mills as part of its core production process.
Riesa Nudeln specifically works with farmers from central Germany who grow the durum wheat for their pasta products.
Under the terms of the new deal BiaVest’s Hilliard Lombard and chief financial officer, Warren Codd, will join the Riesa Nudeln board
Andre Freidler and Olivier Freidler will continue to be involved in Riesa on an advisory capacity and as a 20% strategic shareholder.
Lombard said today (Friday, September 29) that Riesa is “a milestone moment for BiaVest”.
“We are passionate about the food sector, believe in the founders and brands we invest in, and back them in achieving their growth ambitions.
“BiaVest believe the Friedler family are the right partners for BiaVest sharing strong values and complementary growth ambitions,” he added.
André Freidler from Riesa Nudeln, believes they have found a “capital-strong partner” in BiaVest who has a “great deal of expertise to drive the brand business forward”.
“These considerations were very important to us in our choice of partner, and we are pleased to be able to continue to accompany the company’s development in partnership with BiaVest,” he added.