Veganz closes equity round with new investors
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The circle of investors is changing at Veganz. In an equity round, Veganz Group AG was able to "bring renowned investors on board", according to a media release.
New lead investors are the investment company Paladin One and, as a private individual, its managing director and spokesman of the board Marcel Maschmeyer. In addition, Develey Holding and Michael Durach, head of the delicatessen supplier Develey, are participating as private investors. Durach has also been on the supervisory board of Veganz Group AG since 24 June. As part of the second tranche, Veganz has gained Brandenburg Kapital as a further investor in the pre-IPO private placement. With this, the full-range vegan retailer closes the equity round of 11 million euros.
According to a report in the Lebensmittelzeitung, the Edeka Group is leaving as the fourth-largest and silent partner. The retailer has sold its 11.71 per cent stake to Veganz Group AG. Edeka itself did not comment on the withdrawal, which is said to have been in the offing for some time. Edeka is one of Veganz's largest retail customers to date.
IPO and new production facility
According to its own information, the vegan specialist increased its customer turnover by 22 per cent from the beginning of the year to the end of July. In the first half of the year, sales of vegan cheese alternatives in particular grew by more than 275 per cent compared to the same period last year. In the first nine months of last year, revenues increased by eleven per cent. In order to open up another financing option, Veganz Group AG plans to go public within the next twelve months.
In order to secure growth, Veganz is building a second production facility in Berlin called the "Veganz Food Factory" near Berlin. According to the company, "Europe's largest production facility for purely plant-based products" such as vegan alternatives to classic dairy, meat and fish products will be built there on more than 9,000 square metres. Last September, Veganz opened its first cheese factory in Berlin.