Finatem acquired 100% of the shares of the Food & Service Group, Mülheim (“F&S”), which combines the operative business of MPF Hermesmeyer GmbH, Hogrimex GmbH, and Eduard Schmitz & Sohn GmbH under one roof. Signing and closing of the transaction were completed on October 29, 2019.
As a delivery wholesaler with more than 4,000 food and non-food items, F&S covers the needs of canteen kitchens, German and ethnic catering establishments and snack bars.
The company specialises in potato products, sausages, meat products and sauces and has developed a leading regional market position in North Rhine-Westphalia. The extensive cooked sausage assortment is produced in the own processing plant with self-developed, proven recipes. From three locations approx. 1,700 customers are served on 6 days a week by own logistic fleet.
The group has its roots back 1965 and employs today about 150 people. In 2019 sales of EUR 57 million are expected. Also for the next years the target market of F&S shows excellent opportunities to continue this growth path.
On the food market in Germany, the growth trend in out-of-home consumption is continuing. More and more people are taking advantage of the wide range of gastronomic options and foregoing eating at their own kitchen table. Both the number of visitors and the average expenditure per person increased in 2018, so that the market volume in Germany amounted to around EUR 81 billion. A further increase is also expected for the coming years with a market volume of around EUR 88 billion in 2021. In addition to the out-of-home market, the food retail segment is also growing.
The F&S Group positions itself as a delivery wholesaler for smaller, regional restaurants and canteen kitchens as well as resellers. Conventional restaurants with service and snack shops represent over 70% of German gastronomy companies with a market volume of EUR 57 billion in 2018. By 2021, these types of gastronomy in Germany are expected to grow further to around EUR 62 billion.
F&S Group will be headed by the current Managing Director, Stefan Redeker and the current commercial director, Christian Mamok, promoted to second Managing Director.
The transaction was funded by Finatem and the local National-Bank, Essen, that already supported F&S in the past.