MBO@Halder

Halder sells Wback to C.H. Guenther & Son

2019-2-4

Halder has sold its investment in Wback, the leading German producer of hamburger and hot dog buns, to C.H. Guenther & Son LLC (San Antonio/Texas).

Wback was established in 2003. In 2013, Halder completed an MBO, providing management and shareholder succession by acquiring a majority holding from its founder, Peter Wendeln. The company operates two state-of-the-art manufacturing locations in the North and South of Germany supplying buns to the quick service restaurants, food retail and food service industries.

By a substantial expansion of production capacity, investment in packaging capability and the addition of intermediate storage, Wback has generated substantial growth with existing and new clients: Since Halder’s entry, the company has doubled sales revenues. C.H. Guenther & Son is a leading manufacturer of grain-based products in North America and Western Europe. The acquisition of Wback significantly broadens its position in Europe through the addition of new product capabilities and geographic reach.

Halder has been active in Germany since 1991 and has provided 38 SMEs with capital for ownership succession and growth. Including exits at Klingel medical metal, Aqua Vital, KEYMILE and BMB Manifattura Borse, Wback is the fifth portfolio investment sold from its Halder Germany II fund over the last six months. On average, Halder has achieved a significantly more than twofold increase in value of portfolio investments at exit overall. With the exit at Wback, cash returned to Halder’s investors has exceeded the one billion Euro mark.