GETI WILBA

General information

Industry:
production of processed meat products and frozen products
Employees:
approx. 550
Turnover:
roughly EUR 85 million
Region:
Europe

Initial situation

The GETI WILBA GmbH & Co. KG specialises in the refinement of meat products, especially from poultry and game, and in the production of frozen prepared dishes. In the chicken meat segment, GETI WILBA covers the entire value chain, from living animals to the end product for the retail trade and industry. The company employs 559 people at three locations in Bremervörde and Cuxhaven. The frozen meat specialist is one of the three most important processors of chicken meat in Germany.

The GETI WILBA GmbH & Co. KG filed for insolvency in mid-February of 2020 due to expiring credit lines. Dr. Christoph Morgen (Brinkmann & Partner) was appointed as provisional insolvency administrator. A nationally and internationally oriented investor process was imitated, which was exclusively accounted for by the experts of Restrukturierungspartner and was successfully completed even under the adverse conditions caused by the Corona crisis.

Initial situation

In the course of an almost eleven-week M&A process, GETI WILBA GmbH & Co. KG was sold to the equity fund CMP German Opportunity Fund III advised by the Berlin-based investment company CMP Capital Management-Partners, which has extensive experience in restructuring. All approx. 550 jobs and the three German production sites in Cuxhaven and Bremervörde will be retained. In addition, CMP has acquired all shares in the Austrian holding. Thus, all material assets have been transferred.

Restrukturierungspartner were responsible for coordinating the entire transaction process. This included:

  • Researching and approaching investors
  • Management presentations
  • Support during due diligence
  • Purchase contract negotiations with investors