McWin, a private investment firm specialising in foodservice and food technology, recently announced the acquisition of a majority stake in L’Osteria, the leading casual dining operator in Germany and Austria.
The chain currently operates 157 locations in eight countries, with over 6,000 employees in the DACH region, the UK, France, Luxembourg, the Netherlands and the Czech Republic.
The transaction is valued at nearly €400 million. The founders Klaus Rader and Friedemann Findeis will both remain minority shareholders in the company. The new partnership with McWin will further support and accelerate the group’s expansion both in Germany and in numerous new and existing markets across Europe.
L’Osteria and plant-based
The chain has a wide vegan offering. Its pizza dough is vegan, and for this Veganuary, it adapted its Menu della Casa with plant-based options. Each month the company presents a regular menu consisting entirely of vegan dishes.
Additionally, last November, in a progressive move by the company, L’Osteria launched plant-based TU-NAH produced by Bettaf!sh at all 157 locations. TU-NAH will be available as a menu option on two pizza and pasta dishes, as well as a special ravioli entree introduced for Veganuary.
The acquisition of L’Osteria brings the total number of restaurants in the portfolio of McWin and its affiliates to over 1,500.
Henry McGovern, founding partner at McWin, said: “In my 30 years of following the European foodservice market, I have rarely come across a private label brand with such a level of quality and opportunity. We firmly believe that excellent companies like this outperform in turbulent times. Italian cuisine is universally loved and L’Osteria is the clear market leader in Europe’s largest economy, with a strong track record in a variety of operating environments. We strongly believe that L’Osteria has the potential to become the market-leading casual dining group in Europe and look forward to working with the team to capitalise on this opportunity.”
Klaus Rader and Friedemann Findeis, founders of L’Osteria, said, “We are delighted to be working with McWin on the further development of L’Osteria and to be working with them to realise our vision of “The Joy of Italy, everywhere for everyone”. The team of Henry McGovern and Steven K. Winegar has a wealth of experience in the foodservice sector as well as in brand building and expansion, which makes McWin the ideal partner for our ambitious growth and internationalisation plans. We, our leadership team and the entire L’Osteria Famiglia look forward to working with McWin to take the L’Osteria success story to the next level.”