BiaVest has announced that it has acquired an 80% stake in leading German-based pasta company Riesa Nudeln.
The Irish-based specialist food investment group, with annual revenues exceeding €40 million, employs 150 people and operates a well-invested manufacturing facility from its base, in the town of Riesa, in Saxony, Germany.
The company noted that it has an annual production capacity of 25,000 tonnes of pasta, with the current investment programme set to double its output, to 50,000 tonnes, using durum wheat sourced locally, through strong local partnerships with farmers and mills.
It also has a pasta museum, restaurant and shop – known as the Riesa Nudelcenter – which sees over 200,000 visitors a year, at its manufacturing facility.
BiaVest was founded in 2021 by experienced food sector specialists Hilliard Lombard and David McKernan.
The deal is BiaVest’s first Continental European acquisition and its fourth investment in just two years, the company noted.
Riesa Nudeln joins leading UK and Irish convenience snacking brand Nomadic, leading fresh-donut brand Offbeat Donuts, and award-winning ‘better for you’ food brand Nobó in the BiaVest portfolio.
BiaVest co-founder Lombard commented, “Riesa is a milestone moment for BiaVest, representing our first Continental Europe acquisition. 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.”
As part of its growth strategy, Riesa is currently completing a new €4 million production line for the specialised pasta spätzle.
This investment will further enhance capacity and facilitate expansion into new markets, generating an estimated €15 million in additional annual revenues.
André Freidler of Riesa Nudeln added, “In BiaVest we have found a capital-strong partner with a great deal of expertise to drive the brand business forward while, at the same time, leveraging the site’s existing potential.
“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.”