Linklaters advised Deutsche Beteiligungs AG (DBAG) and DBAG Fund VI on the acquisition of Dahlewitzer Landbäckerei GmbH (Dahlback) from the financial investor Steadfast and the company’s managing shareholder. The latter is going to make a new investment in the company and to continue to hold office. DBAG Fund VI will assist Dahlback in further expanding its operations. The contract they entered into is subject to the approval of the competent antitrust authorities.

For more than four decades, DBAG has invested in successful medium-sized companies which, with their products and services, occupy an outstanding position in the markets in which they operate. Given its entrepreneurial investment approach, it is much sought after as an investment partner in the German-speaking region, and it invests from its own balance sheet alongside the advised funds. The total capital amounts to approximately €1.3 billion.

Dahlback is the largest bakery chain operated in the north-east of Germany. The company operates 357 chain stores and generates annual sales in the amount of €99 million. In addition, Dahlback operates “Rubave”, a wholesaler with a range of bakery products it supplies to 1,500 customers throughout the supermarket, hotel, catering and gas station sectors.

Linklaters (Munich, Frankfurt): A Linklaters team led by Dr Rainer Traugott and Holger Ebersberger (both Corporate, Munich) advised on the deal. The team also included Dr Thomas Elser (Tax, Munich), Steffen Schellschmidt (Banking, Frankfurt), Daniel Buchinger (Real Estate, Frankfurt), Dr Christian Ley, Ingo Sappa (both Employment, Munich), Hanno Witt, Dr Niclas von Woedtke, Marc-Oliver Eberspacher, Martina Farkas and Ruprecht Freiherr von Maltzahn (all Corporate, Munich), Martin Mager, Dr Matthias Korff (both Tax, Munich), Levin-Friedrich von Bismarck (Corporate, Frankfurt), Julia Bepler, Yesim Akbaba (both Banking, Frankfurt).