Bridgepoint is to sell its stake in German coffee and water dispenser supplier Kaffee Partner to Odewald & Compagnie for an undisclosed sum. The money multiple on the transaction is three times the original amount. The transaction is subject to relevant competition clearance regulation.
The founders of Kaffee Partner, based in Wallenhorst near Osnabrück, sold a majority stake in the business to Bridgepoint in October 2002. The company, which operates in the automatic dispensing sector has around 18,000 machines installed throughout Germany and is a market leader in the sale of fresh coffee machines.
Kaffee Partner has 230 employees and sales of €42m. In the last two years the company has experienced over 40% growth in turnover.
Bridgepoint was advised on the sale by Doertenbach & Co (corporate finance) and Clifford Chance (legal). The transaction represents Bridgepoint’s 11th major exit this year following the sale of its stake in Really Useful Theatres to Andrew Lloyd Weber this month and the sale last month of its stake in Virgin Active to Richard Branson.