One Rock backs merger of Eat Happy and Hana into 5,800-store European food platform
What's the deal? One Rock Capital PartnersDealroom has a profile for this one. Try Dealroom → has completed a strategic investment combining EAT HAPPY GROUPDealroom has a profile for this one. Try Dealroom → with the European operations of Hana Group SAS. The merged business will trade as Eat Happy Hana Group.
Why now? The combination, announced earlier, closed after receiving all required regulatory approvals.
What's the endgame? The combined company forms a pan-European platform for ultra-fresh Asian and convenience food, spanning freshly prepared sushi and Asian-inspired cuisine. It serves roughly 5,800 points of sale across 14 European countries, with a portfolio of more than 20 brands.
The merger pairs two businesses with complementary geographic footprints and concepts. "The merger gives us a compelling opportunity to combine ideas, expertise and successful formats from across Europe," said Dr. Johannes Steegmann, chief executive officer of Eat Happy Hana Group.
For One Rock, the appeal lies in the segment's resilience and the companies' retail relationships. "We were attracted to the opportunity by the resilience and growth potential in this market segment, the depth of retail relationships and the caliber of the management teams," said R. Scott Spielvogel, managing partner of One Rock Capital Partners.
Luca Mammola, chief financial officer of Eat Happy Hana Group, pointed to the backer's sector track record. "We are also pleased to have One Rock's experience in food and beverage manufacturing and distribution supporting us as we execute on the potential of this combined platform," he said.
Deutsche BankDealroom has a profile for this one. Try Dealroom → and RBC Capital MarketsDealroom has a profile for this one. Try Dealroom → advised One Rock on the deal, with Willkie Farr & Gallagher LLP acting as legal advisor.
The signal: The tie-up reflects consolidation in Europe's fresh convenience food category, as private equity backs cross-border platforms built on retail partnerships and scale.
Read more: Business Wire
Image credit: cylonfingers (Openverse)
