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Kharis Capital acquires NORDSEE from HK Food GmbH

Pressreleases, 09. October 2018

A stepping stone for Kharis in building a pan European Quick Service Restaurant leader.

HK Food GmbH, a subsidiary of Unternehmensgruppe Theo Müller, and Kharis Capital are pleased to announce that they have reached an agreement for the 100% acquisition of Nordsee Holding GmbH by KC North Sea, a dedicated investment vehicle managed by Kharis Capital.

With a network of c.350 restaurants mainly in Germany and Austria and founded in 1896, NORDSEE is one of the largest players in the European Quick Service Restaurant sector and the leading fish & seafood brand with high brand awareness.

Heiner Kamps, Chairman of the Supervisory Boards of Unternehmensgruppe Theo Müller S.e.c.s. and Nordsee Holding GmbH commented: “Over the last years we continuously invested in the development of the NORDSEE business. As a result, NORDSEE has always made a positive contribution to the results of Unternehmensgruppe Theo Müller. Nevertheless, NORDSEE with its restaurant network always held a special position within the group. Facilitating the refocus on our core activities – the production of dairy as well as delicatessen salads and dressings – we have decided to divest NORDSEE. With its business in good shape, we are convinced that NORDSEE will continue to flourish under new ownership.”

Daniel Grossmann and Manuel Roumain, co-founders of Kharis Capital, added: “We are extremely happy to welcome NORDSEE to our platform of leading QSR brands. NORDSEE comes with a tremendous heritage and expertise in the healthy fish segment of the market. The acquisition of NORDSEE is a key milestone for Kharis on its path to becoming a leading pan European QSR player. We look forward to working with the teams and franchisees.”

Kharis Capital is a family-backed investor in the consumer sector, with a dedicated focus on the QSR market. Through various entities, it currently controls close to 550 restaurants across 3 brands (Burger King, Quick and O’Tacos) and 5 key countries (Italy, Belgium, Luxemburg, France and Poland).

The sellers were advised by GCA Altium AG.

About NORDSEE - NORDSEE with its headquarters in Bremerhaven was founded in 1896 by a group of Bremen shipowners and merchants and since has become a hallmark of high quality fish and seafood products. Today, the company operates more than 350 locations with Restaurant, Snack-Shop or Ocean Buffet configuration, making it the leading fish and seafood specialities brand in Europe. With over 6,000 employees, thereof 165 trainees, NORDSEE c. 20 million customers, generating System Wide Sales greater than EUR 350m.

About Kharis Capital - Founded in 2015 by Manuel Roumain and Daniel Grossmann, Kharis Capital makes long term direct investments with like-minded investors in the consumer and retail markets. Its entrepreneurial approach and build-up strategy are key drivers in managing its brand portfolio.

About Unternehmensgruppe Theo Müller - Unternehmensgruppe Theo Müller is a family-owned company operating internationally in the food sector with over 27,500 employees and annual sales of around EUR 6 billion. The company comprises activities and numerous well-known brands in the dairy, deli and services business segments.

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