Investec is acting as sole financial adviser to bd-capital on its £82m recommended acquisition of Science in Sport plc
Our role
Our UK Consumer M&A advisory team is acting as sole financial adviser to bd-capital on its £82 million recommended acquisition of Science in Sport plc (“SiS”), a leading provider of sports nutrition for athletes, sports and fitness enthusiasts.
This transaction is our UK Advisory team’s 11th UK public M&A transaction in the last 16 months and marks our first deal with bd-capital.
About bd-capital
- bd-capital was founded in 2019 by Andrew Dawson (former Partner at Advent International), and Richard Baker (former FTSE 100 CEO and Chairman, and Advent Operating Partner). bd-capital is a private equity firm that follows an operator-led investment strategy, making majority investments in mid-market businesses headquartered in the UK, Benelux and Iberia, which operate in industries that are experiencing enduring structural growth across the Healthcare, Services and Consumer sectors.
- bd-capital has raised two funds since its inception, and, currently, has over €800 million in assets under management. bd-capital’s second fund closed in March 2025 with total commitments of €430 million, exceeding the initial target by 20 per cent.
About Science in Sport plc
- SiS is a leading sports nutrition business that develops, manufactures, and markets innovative nutrition products for professional athletes, sports and fitness enthusiasts and the active lifestyle community with production facilities based in Blackburn, UK. SiS was admitted to trading on AIM in August 2013 and its market capitalisation at the Latest Practicable Date was approximately £63.9 million.
- SiS has two highly regarded brands: PhD, a premium active-nutrition brand targeting the active lifestyle community; and SiS, a leading endurance nutrition brand for elite athletes and professional sports teams.
About the deal
Investec acted as exclusive advisor in the sale of Angels GmbH (Angels) to LeFaxx Group (LeFaxx, Turkey).
Angels is one of Germany’s leading brands for women’s trousers, known for its perfect fit and premium quality.
The transaction marks the successful conclusion of the ownership of Angels, which began in 2015 when the business was acquired from its founding family. During its ownership, the concentration was on enhancing, professionalizing and digitalizing Angels’ operations, strengthening the management team and refining the brand’s market positioning. These efforts ensured sustained profitability and strong cash flow, even amidst challenging market conditions.
The Turkey-based acquirer LeFaxx Group is a well renown producer of denim and non-denim apparel with over 25 years of industry expertise. By adding Angels to its portfolio, LeFaxx gains an established brand and direct access to leading retail customers in the European branded apparel market.
How we helped
The Investec Consumer Team provided comprehensive advisory services to the investor throughout the entire sale process, including:
– crafting the process strategy
– preparing marketing materials
– developing business plan and financial model
– identifying and engaging with both domestic and international buyers
– educating potential buyers and supporting due diligence
– structuring and negotiating the transaction terms
“The sale and financing of an apparel business with significant exposure to brick-and-mortar retail is undoubtedly challenging in the current market. However, the Investec Consumer team’s dedication, persistence and deep entrepreneurial expertise in the apparel sector were instrumental in positioning Angels in the right way and successfully closing the transaction.”
Caspar Borkowsky
CEO Angels Jeans
Our team is pleased to have advised Group SOFIA in the capital reorganisation of OBYO, its Hygiene subsidiary, with the minority entry of Cerea Partners.
About the deal
Group SOFIA is a family-owned group, founded in 1971 and based in the west of France, with approximately €225 million in revenue in 2024, specialising in B2C and B2B distribution.
Founded in 2018 by Group SOFIA, OBYO, the B2B division of the group, has rapidly expanded through the successive acquisitions of eight entities, driven by its shareholder and an experienced team.
In order to pursue its strategy of consolidating the professional hygiene market and strengthening the group’s operational structure, OBYO’s shareholders have decided to open the company’s capital to Cerea Partners through a sponsorless solution. This financing offers limited dilution for historical shareholders and allows the management team to acquire an equity stake in the company.
Cerea is structuring this financing in the form of a bond debt, part of which is committed but not yet drawn, in anticipation of future external growth operations. This is complemented by a minority equity investment and bank financing provided by Banque Populaire Grand Ouest, CIC Ouest, Arkéa, and Crédit Agricole Mutuel Atlantique.
“Alexandre Ebin and his team at Investec provided us with highly efficient support, both through their exceptional work delivered within a very short timeframe and the quality of their interactions with all the stakeholders involved in this matter. This human connection was invaluable for Sofia in ensuring the success of its first LBO project.” – Philippe Lefauconnier, CEO, Group SOFIA
What we did
Investec advised the group shareholders throughout the transaction process, including:
- Designing the transaction strategy,
- Identifying potential minority investors,
- Preparing the marketing documentation,
- Organising a competitive bidding process,
- Actively supporting execution during the due diligence process,
- Setting up bank financing,
- Handling the final negotiations.
About the deal
Investec has advised LeFaxx Group in the acquisition financing of Angels GmbH
Investec advised LeFaxx Group/Istanbul on the financing of the acquisition of 100% of shares in Angels GmbH, in a cross-border deal. The client had faced strong resistance to support the deal from banks and debt funds alike. Areas of concern were the consumer sector and the cross-border nature of the deal. Subsequently, we were mandated to explore alternative financing structures.
Our team developed a senior term loan & mezzanine structure with shortened maturities. This helped to raise a bank financing, while interest from mezzanine lenders was created in parallel. Overall, we raised €25m from Unicredit (term loan & RCF) and VREP (mezzanine).
About LeFaxx Group
LeFaxx Group, a leader in the production of denim and non-denim apparel with more than 25 years of expertise, is committed to state-of-the-art production technology and social economic responsibility. Headquartered in Istanbul and with production facilities in Sivas, the company works with a team of over 600 employees and delivers high-quality products to global markets.
About Angels GmbH
Angels GmbH is one of Germany’s premier brands for women’s trousers, known for its perfect fit, superior quality, and exclusive focus on women’s fashion. With the launch of its premium label “ÆNGELS” in 2022, Angels has elevated its offering into the premium segment. Proudly “Made in Europe,” Angels designs in Germany and produces sustainably in Europe (Türkiye), with a strong focus on environmental responsibility through the use of sustainable materials.
What we did
- We approached new banks, debt funds and mezzanine providers,
- Advised in the acquisition financing, including mezzanine facilities, an acquisition loan, as well as revolving credit lines for post transaction operational needs,
- Prepared appropriate information material and supporting information,
- Revised an existing business plan and developed a term sheet,
- Prepared and coordinated approaches to the lenders and investors to obtain the required commitment level,
- Organized, assisted and followed up on all discussions with lenders and investors,
- Supported in negotiations with lenders and investors in close coordination with LeFaxx, Angels GmbH and Findos (previous owner of Angels GmbH),
- Supported in the completion of KYC checks by potential Lenders and closing conditions.
“Together with Investec, we celebrated the successful completion of a transaction whose financing proved to be a major challenge in the current difficult market environment. With Investec’s involvement, we were able to secure the necessary funds for the acquisition through suitable partners. With their in-depth expertise in structuring complex financing and their extensive network, the Investec team was able to develop an optimal solution for us. Despite the considerable complexity of the project and the various challenges, they not only found a suitable financing solution, but also demonstrated an exceptional level of commitment and expertise. Companies facing difficult decisions or challenging transactions will find Investec to be a reliable, competent and trustworthy partner. We would like to express our gratitude to the Investec team. Their expertise and tireless efforts were essential to our success.”
Berkay Dogan, CEO
and
Vedat Dogan, Owner
LeFaxx Jeans / Tekstil
Investec to advise the shareholders of ASWA Keukens in the acquisition of Intermat.
About the deal
Investec has advised the shareholders of ASWA Keukens on the acquisition of 100% of the shares of Intermat, a leading player in the Dutch kitchens, tiles and sanitary market for both private individuals as well as business customers.
With the acquisition of Intermat, ASWA Keukens is expanding its national coverage to nine locations throughout the Netherlands. ASWA’s acquisition of Intermat represents a pivotal moment for both organizations, enhancing their industry presence and paving the way for further growth. Established in 1977, both companies share core values of quality, a personalized approach, and engaged teams. With these shared values, the companies will continue to operate under their own identities, committed to provide even better services for both private and business clients.
“This new collaboration offers great opportunities to innovate and serve our private and business customers even better.”
Robbert Leemans, owner of ASWA Keukens – branches in Helmond, Uden, Dordrecht and Hilversum
What we did
Investec advised the shareholders of ASWA Keukens throughout the buy-side process, with:
- Meetings with management and gathering information;
- Drafting information & marketing materials;
- Target search and approach;
- Managing price negotiations;
- Handling due diligence; and
- Coordinating legal documentation phase.
About the deal
Investec advised the shareholders of Sophie LEBREUILLY on an LBO sponsored by FrenchFood Capital, Cerea Partners, Sofiprotéol, Epopée Gestion, IRD, NextStage and Finorpa
Since its creation by Sophie and Olivier Lebreuilly in 2014 in Étaples-sur-Mer, the Sophie LEBREUILLY group has become a major player in next-generation bakeries and pastry shops. The brand first established itself in the Hauts-de-France region before expanding nationwide, offering a distinctive experience: warm and inviting spaces that combine dining, tea rooms, and high-quality products, including homemade pastries crafted in two dedicated workshops.
The Group has experienced notably strong growth, with the number of bakeries growing five times over the past four years (from 16 to 80) and its revenue increasing from €14 million to €70 million. By the end of 2025, the Group is expected to exceed its milestone of 100 bakeries.
To support the management’s ambitious development plan, the Group welcomes Cerea Partners as a key shareholder alongside FrenchFood Capital. Sofiprotéol, Epopée Gestion, IRD, NextStage, and Finorpa are also participating in this investment to support the rapid expansion of the network.
Additionally, a new unitranche financing structure provided by Apera Asset Management and Amundi has been put in place, extending maturity and securing Capex financing capacity.
What we did
Investec assisted the shareholders of Sophie LEBREUILLY throughout the project, including:
- Structuring the transaction,
- Defining the deal strategy,
- Preparing marketing documentation,
- Modelling the business plan,
- Coordinating and reviewing the VDD work,
- Managing the due diligence process,
- Providing active support during negotiations with potential financial investors,
- Securing a unitranche financing line from debt funds,
- Assisting through to the closing.
About the deal
Investec has advised MEXXs Group on the issuance of a working capital and capex financing facilities
The primary objective of this mandate was to provide growth capital to our client with an ambitious business plan based on a dynamic growth trajectory in the past, which was constrained by the availability of growth capital due to the client’s previous financing strategy, which was primarily focused on local banks, and further complicated by the current challenging bank lending environment. Drawing on Investec’s extensive network of financing providers and market insight, a focused market outreach strategy was undertaken which helped to identify a new banking partner that perfectly matched the client’s long-term needs. The financing package includes a substantial credit line and capex financing on attractive terms, securing the client’s medium-term growth and refinancing needs.
About MEXXs Group
MEXXs Group (“MEXXs”) is a regional beverage supplier headquartered in Niedernhall, near Heilbronn in southern Germany. The Group operates 18 locations and specialist stores in Baden-Württemberg. MEXXs offers its customers a wide range of beverages consisting of regional and international brands with over 4,000 items, close relationships and efficient logistics/deliveries. MEXXs’ customers include private individuals (B2C), who can visit one of the several locations, as well as business customers (B2B, i.e., corporates and Hotels, Restaurants and Cafes), who benefit from a door-to-door delivery service.
What we did
- Analysis of the initial situation and generation of the financing idea,
- development of a financing strategy,
- preparation of the documents for approaching the relevant financing partners,
- identification and approach of the potential financing partners,
- obtaining term sheets, negotiation and optimization of the conditions, as well as support up to the signing of the contract and payment.
“The partnership with Investec was a significant step forward for us. At a time when we were facing various challenges, such as the restructuring of our financing strategies, their team supported us with innovative solutions. Through their extensive network, we were not only able to overcome our financial hurdles, but also to tap into new opportunities for expansion.
I would like to express my deep gratitude to the Investec team. Their expertise and commitment were crucial to our progress. They not only helped us, but also motivated us to explore new avenues. We look to the future with fresh courage and optimism and look forward to continuing our successful collaboration.
The positive experiences we have had with Investec show us that other companies can also benefit from such a partnership.“
Thomas Plenefisch
CEO, MEXXs Gruppe
About the deal
Investec advises on the International Strategic Sale of the Holdsport Group to the Frasers Group
In a landmark cross-border transaction, Investec acted as financial advisor to Holdsport Group (“Holdsport”), which is owned by Old Mutual Private Equity (“OMPE”) and the management team of Holdsport in the recently concluded agreement to sell the business to leading UK-based sports, premium and luxury brands international retailer, Frasers Group (“Frasers”). This transaction marks a significant milestone in the South African sporting goods retail sector and highlights Investec’s strong M&A capabilities in both the UK and South Africa, in bringing the transaction to fruition.
The acquisition of Holdsport by Frasers is a key strategic move that will help Frasers deepen its prominent regional presence in the sporting goods market across Europe, the Middle East, and Africa (EMEA). Frasers, which is listed on the London Stock Exchange with a market cap of £3.5bn, is renowned for its relationships with major global brands and its commitment to enhancing direct-to-consumer (D2C) strategies. By integrating Holdsport into its operations, Frasers aims to leverage synergies between its existing brands and the robust portfolio of Holdsport, which includes renowned names such as Sportsmans Warehouse, Outdoor Warehouse and Shelf Life, as well as its Performance Brands.
Investec’s M&A expertise in the consumer and retail sectors in both countries as well as relationships with the different parties was crucial in facilitating this transaction.
“This is an important transaction for South Africa and is a vote of confidence in the opportunity set within the South African economy, as well as in the quality of Holdsport’s business and management. Investec’s presence in both jurisdictions proved pivotal in this regard”.
Marc Ackermann, Investec
“Investec’s knowledge of our business and the sector – both in South Africa and the UK – was invaluable in bringing our two businesses together”.
Chumani Khula, Co-Head of OMPE
About Old Mutual Private Equity
Founded in 2000, OMPE is one of South Africa’s largest and most established private equity managers, focusing on sourcing, investing, managing, and exiting private equity opportunities. The Holdsport Group, established in 1986, encompasses a diverse portfolio of retail, wholesale, manufacturing, distribution, and e-commerce businesses dedicated to the sports, outdoor, and recreation sectors.
About Frasers Group
Frasers, founded in 1982, provides consumers with access to the world’s best Sports, Premium and Luxury brands with a vision to build the planet’s most admired and compelling brand ecosystem. The acquisition of Holdsport is expected to create significant opportunities for manufacturing within Holdsport’s facilities, enabling growth in South Africa and across the African continent. Additionally, there is potential for exporting Holdsport brands to select international markets through Frasers’ extensive network.
Investec is acting as financial adviser on the recommended £191m takeover offer for N Brown Group plc
Our role
Investec is acting as sole financial adviser to Joshua Alliance (the “Bidder”) in relation to his recommended £191m takeover offer for N Brown, the listed UK clothing & footwear online digital retailer.
Investec led the project management of the takeover offer process, negotiations with key shareholders, financing structure and engagement with the Takeover Panel.
Investec’s PLC Advisory and M&A Advisory teams collaborated extensively with other teams from the bank, including Investec Private Capital, FX & Treasury solutions, and Private Banking.
About N Brown Group plc and the Alliance Family
N Brown Group is a top-10 UK clothing and footwear digital retail platform with a home proposition. Through a customer-first shopping experience, supported by an innovative financial services proposition, it offers choice, affordability and value to all its customers.
The Alliance Family have been supporters of N Brown Group for over half a century, providing capital and having been involved in the strategic leadership of the business. Together Joshua Alliance and his family are 60% shareholders in N Brown Group.
Investec has advised Terrena on the acquisition of Tipiak
About the deal
Tipiak is a listed agri-food group, created in 1967 from the merger of two companies owned by the French Groult and Billard families. Product-driven and benefiting from its R&D department, the Group is structured around two main divisions: Dry (i.e., dry grocery and crusty bread) and Frozen (i.e., frozen ready meals and party food). Tipiak operates both in France and internationally, with significant presence in European and American markets. In 2023, the Group generated €225m in revenues (19% from international sales) and employed c.1,300 people.
To initiate a new phase of its development, including international sales expansion, the revitalization of certain activities in France (e.g., product innovation, investment in marketing, sales force strengthening, etc.), and implementation of an industrial strategic plan, Tipiak’s shareholders decided to sell the group to a new partner able to support this growth.
With this acquisition, the French agricultural cooperative Terrena secures a strong brand with an excellent reputation, leading in both mainstream (e.g., supermarkets) and specialized markets (e.g., frozen food distribution channels) in France and internationally. This transaction also allows Terrena to balance its B2C portfolio by increasing its range of plant-based nutritional solutions, meeting its goal of covering all meal consumption moments, and accelerating its international expansion.
What we did
Investec supported Terrena throughout this competitive process:
- using its strong sector expertise to provide a critical evaluation of the opportunity,
- modelling a reworked business plan in line with Terrena’s strategic project,
- conducting detailed valuation work,
- preparing materials for various group committees (board of directors, investment committee, etc.),
- coordinating due diligence work,
- negotiating terms and conditions of the deal.
About the deal
Investec’s international Consumer team has advised Dutch Care Cosmetics, backed by Belgian 3d investors, on its partnership with Sommaire Beauté GmbH, Düsseldorf. With this deal, Care Cosmetics enters the DACH-market, marking an important next step of its international buy-and-build expansion strategy.
Sommaire Beauté is a leading distributor of niche beauty and lifestyle brands. Founders and managing directors Patrick Mehrow and Christoph Broich will continue to drive the growth of Sommaire Beauté as shareholders, supported by Care Cosmetics.
Founded in 2014, Sommaire Beauté has achieved significant growth, specializing in attractive and sought-after brands such as Marvis, Mario Badescu, Omorovicza and Ultra Violette with national coverage in retail distribution in Germany, Austria and Switzerland. Sommaire Beauté supplies luxury department stores such as The KaDeWe Group, Ludwig Beck, Globus (CH) and over 600 long-established independent perfumeries in Germany, Austria and Switzerland.
Care Cosmetics is the Benelux market leader in the distribution of professional beauty brands and producer of two own brands. It was founded in 1996 by Duco van Keimpema and has been backed since 2020 by Belgian 3d investors, which holds a majority stake along Duco van Keimpema.
Care Cosmetics’ founder Duco van Keimpema sees strong strategic alignment in this partnership: “Sommaire Beauté is an ideal platform to reinforce the international expansion strategy with a clear mutual ambition: to grow the business of Sommaire Beauté in DACH and share commercial opportunities within the brand portfolio across local markets. Both parties will benefit from each other’s local distribution network for further growth.”
What we did
Investec’s international Consumer team advised Care Cosmetics and 3d investors on the identification and approach of Sommaire Beauté, support on the preparation of offer / term sheet, coordination of and support on due diligence as well as negotiation support up until signing and closing of the transaction.
“Investec has been instrumental in helping us unlock the German market for Care Cosmetics through the partnership with Sommaire Beauté. Their sector expertise, professionalism and diligence provided a significant value-add for us and were key to getting this transaction completed swiftly and successfully.”
Nicolas Sneyers
Investment Director, 3d investors
Investec has advised the shareholders of Koezio on the sale of the company to Otium Leisure
About the deal
Founded in 2006 in Villeneuve d’Ascq and owned by its founder Bertrand Delgrange and its historical shareholder, Koezio is the pioneer and European leader in action games. With five centers in France and Belgium (Lille, Lyon, Cergy, Paris-Sénart, and Brussels), welcoming over 500,000 visitors annually, Koezio offers unique immersive game experiences focused on team cohesion (aerial courses, physical and logical challenges) in spaces over 3,500 m².
With the acquisition of Koezio’s entire share capital, Otium Leisure enhances its existing portfolio comprising wellknown brands like Speedpark, Fort Boyard Aventures, Eclipso, Kojump, and Kids Empire. Otium Leisure intends to triple the number of Koezio sites in the coming years. Together, Otium Leisure’s brands represent nearly 100 locations and welcomed over 10 million visitors worldwide in 2023.
The acquisition of Koezio also enables Otium Leisure to continue its diversification strategy to become the leader in proximity leisure in Europe and the United States. By 2030, Otium Leisure aims to operate over a thousand entertainment venues worldwide.
What we did
Investec assisted the shareholders throughout this project:
- Deal preparation: define possible options, define the equity story incorporated in the marketing documentation, oversee financial VDD reports, run preliminary discussions with potential partners ahead of the sales process to pre-select the most suitable partners, prepare for management presentation and due diligence, formalize management’s business plan.
- Deal execution: set up & run a competitive auction process (coffee sessions, solicitation of indicative offers, management meetings, DD monitoring, assistance in final negotiations).
This new deal enriches Investec’s track-record in the consumer space.
“Koezio has revolutionized the indoor leisure market by offering innovative immersive experiences combining action, reflection, and technology since its creation in 2006. After opening 5 indoor parks that welcome over 500,000 visitors annually and continuously innovating, I have proven the resilience and dynamism of the model. I felt it was time to transfer this magnificent company to an ambitious and visionary shareholder in global leisure who can boost its development: Otium Leisure. This new alliance promises to sustain Koezio’s success with future projects in France and internationally. Given its positioning and ambitions, Otium Leisure has appeared to me like the ideal partner for Koezio. I am proud of the journey and the impact I have made in the indoor leisure sector, and I am glad that it can continue thanks to Otium Leisure and the existing management team.”
Bertrand Delgrange, founder of Koezio
“This rapprochement is the result of a mutual passion between our teams, who share a common vision regarding the quality and originality of the experiences provided, as well as a strong ambition for development in the growing European leisure market. Beyond the natural synergies with our other multi-activity centers (Speedpark) and action games (Fort Boyard Aventures), this alignment will also permit at Otium Leisure to leverage unique expertise in the creative design and gameplay of new experiences. Koezio is a brand appreciated by the public and commercial real estate operators, with a strong position in corporate events. We are proud to join forces for this new stage and to take it to new horizons.”
Quentin Moreau, Investment Director at Otium Leisure
About the deal
Golden Care, a global provider of eco-friendly cleaning and (colour)protection products for outdoor living market welcomes Down2Earth Capital as a majority shareholder to fuel growth.
Founded in 1996, Golden Care makes 100% water-based, bio-degradable cleaning and protection products for teak, fabric, wicker, and other outdoor furniture materials. Their non-hazardous products, which are known for their exceptional quality and ensuring safety for both humans and the environment, are consistently enhanced through internal research and development efforts. As a result, Golden Care quickly emerged as the preferred supplier for key global players in the mid & high-end segment of the outdoor living sector.
Down2Earth is a Belgian private equity investor focusing on small and medium-sized transactions in the Benelux.
What we did
Investec advised the shareholders of Golden Care throughout the sell-side process, with:
– Drafting information & marketing materials;
– Identification and selection of strategic and financial buyers through a competitive process;
– Managing price negotiations;
– Handling due diligence;
– Coordinating legal documentation.
About the deal
Investec advised wellyou on the refinancing of acquisition loans. A competitive process conducted by our team with around 50 potential lenders resulted in the successful signing of the loan agreement in January 2024.
wellyou is the leading fitness chain in northern Germany with currently 34 studios and more than 100,000 members. In 2017, AUCTUS Capital Partners AG acquired a majority stake in the company. Together with a new management team, wellyou was strategically reorganised and is generating strong growth in the regional market. The company’s goal is to have 40 of its own studios by the end of 2024.
What we did
- Organisation and management of the project
- Preparation of marketing materials, in particular teaser, information memorandum, current trading
- Preparation of potential investor lists
- Preparation of the business plan
- Preparation of management presentations
- Approaching potential investors
- Process support and answering questions from potential investors
About the deal
Our client is an owner-managed project development and construction company. Its core expertise lies in the purchase of land, sale and construction of property, project development and management of residential property. With an annual sales volume in the mid double-digit million range and around 15 major projects completed each year, it plays a key role in shaping the north-east German region. A particular focus is on strict compliance with energy standards and quality requirements, with the aim of developing the region sustainably.
The subject of our consultation was the implementation and realisation of flexible unsecured working capital financing at company level as well as subordinated structured real estate financing at optimal conditions. The respective loans were approved and disbursed just two months after the first approach to potential financiers.
Investec supported the shareholder and management throughout the entire transaction process. We made sure that our client’s interests and expectations were met and ensured a time-efficient process.
What we did
Investec advised the company’s shareholders and management on the structuring and implementation of the financing, identified potential financing partners and structured, coordinated and consistently drove the entire financing process. In addition, we supported our client in the preparation of the necessary financing documentation. We advised our client in the negotiations with potential financing partners from the first contact to the closing with the appropriate partners.
Investec advised Wow! Momo on its USD 50m Series D round led by Khazanah
About the deal
Investec acted as the Exclusive financial advisor to Wow! Momo Foods Pvt. Ltd, India’s leading domestic QSR chain, on its US$50m Series D Fundraise led by Khazanah
The round was led by Khazanah and saw participation from existing investor OAKS. Khazanah, sovereign wealth fund of Malaysia, invested $42M both in primary and secondary. This funding will enable Wow! Momo to grow as pan-India brand and strengthen their market presence.
About Wow! Momo
Wow! Momo Foods Pvt. Ltd. is India’s leading domestic QSR Chain, operating 3 brands- Wow! Momo, Wow! China and Wow! Chicken. Recipe for success has been its strong leadership team, Pan-India footprint, sharp unit economics. With presence in more than 35+ cities, Wow! Momo has more than 600 outlets in India. With focus to establish presence in Tier 2/3 cities and target to reach 100 cities in the coming years. Focus on providing four consumer driven factors – Convenience, Hygiene, Affordable and Taste. It offers integrated “Wow! Experience” through new store formats of ‘Wow! Combo’ and ‘Wow! Eats’.
What we did
Investec leveraged its deep Investor network to raise funds for Wow! Momo and appropriately positioned them in the process. With Investec’s deep understanding of deal making and the food services space, we were able to pre-empt & negotiate a favourable deal in the current funding environment.
Investec played a key role in executing the deal by balancing the interests of the secondary sellers, Founders and incoming investors, thus creating a foundation for long-term partnership.
“There is no greater joy for a founder than giving its initial investors (Indian Angel Network (IAN) and Lighthouse Funds) great partial exits. For us, the Bharat Story has just begun with a huge headway of growth. With Khazanah’s investment into the business and their long-term approach, we will strive to become the powerhouse of innovation and transformation in the food space while keeping a strong balance between sustainability, growth and backing breakthroughs”.
Sagar Daryani, CEO & Co-Founder, Wow! Momo Foods
“We are excited to be on the journey with Wow! Momo in their mission to build the largest QSR brand in India. We aim to encourage the growth of Wow! Momo through enhanced scalability, technological fortification, and focusing on building a strong back-end capability to support its growth.”
Dato’ Amirul Feisal Wan Zahir, Managing Director, Khazanah
“In our journey with investments in other F&B brands, we have realised that long-term thinking and dynamic leadership are essential. We feel that Wow! Momo has both. We feel that Wow! Momo will not only gain dominance in the domestic market but also be the first globalized QSR company from India. We are ready to scale with the brand.”
Vishal Ootam, Founder and CEO of OAKS Asset Management
Investec acts as sole financial adviser to DBAY Advisors Limited on the recommended acquisition of Finsbury Food Group plc
Our role
Investec acted as sole financial adviser and sole broker to DBAY Advisors Ltd in relation to the recommended acquisition of Finsbury Food Group plc, a leading UK and European manufacturer of cake and bread bakery goods supplying a broad range of blue-chip customers within the grocery retail and ‘out of home eating’ foodservice sectors.
About DBAY Advisors Ltd
DBAY is an asset management company based on the Isle of Man and licensed by the Isle of Man Financial Services Authority. Founded in 2011, DBAY manages a range of funds and co-investment vehicles for endowments, foundations and other institutional investors. With offices in Douglas and London, DBAY invests predominantly in listed equities and can also hold unlisted instruments. DBAY is committed to supporting management teams and assisting them in the process of growing their businesses.
Investec’s Private Company Fundraising team advised Think Better Group on its investment in growth stocks by ABN AMRO Sustainable Impact Fund.
About the deal
Investec has worked closely with Think Better Group over the past few months to position their investment strategy and find the right partner so that Think Better Group’s management team can focus on achieving their impressive mission. Despite the macroeconomic conditions, which impacted both the equity and bond markets, Investec has found the right partner for Think Better Group to deliver on its mission and long-term growth ambitions. With a partner in ABN AMRO, there is room for follow-up investments to finance acquisitions of sustainable companies in consumer products.
What we did
Investec’s extensive investor network of family offices, venture capital and private equity firms, strong global coverage and flexible approach to the deal process ensured a successful mandate. Investec provided strategic advice to the management team without accepting an advance fee, thus aligning with the Group’s success.
Heath Jansen, CEO of Think Better Group commented: “We are very grateful to Investec for the support they have provided us in completing the transaction with ABN AMRO Sustainable Impact Fund. We have worked closely with Investec for a long period of time, during which they have been a strong long-term partner in finding the right strategic investor to finance the future growth and acquisitions of sustainable brands of Think Better Group. We look forward to continuing to work with them as we scale up.”
Over Think Better Group
Think Better Group owns and operates a number of leading sustainable brands. They aim to provide consumers with alternatives to single-use plastic products in the consumer industry by prioritizing the use of plant-based materials. Think Better Group’s total portfolio of consumer brands currently eliminates 760 tons of plastic per year, the equivalent of 38 million single-use plastic bottles.
The company offers a unique e-commerce and retail platform with the ability to build and expand sustainable consumer brands. With the investment of ABN AMRO Sustainable Impact Fund, Think Better Group will scale up its investments in its existing brand portfolio and make further acquisitions of additional sustainable brands to complement this portfolio.