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RTÉ News
02-07-2025
- Business
- RTÉ News
Irish-based Kerga completes deal for Germany's Münsterland
Irish food investment company Kerga has acquired Germany's Múnsterland J Lúlf - which specialises in ready-to-drink coffee and dairy products. The combined businesses are expected to have revenues of more than €60m next year, with the sale of 100 million products forecast. Today's deal marks Kerga's second acquisition, following the purchase of Donegal's Nomadic Foods in 2021. Founded over a century ago, Münsterland's iced coffees, protein drinks and natural energy teas are available in over 20 countries. Its brands include Jimmy's Iced Coffee. Kerga is jointly owned by BiaVest, the Irish specialist food investment group, and Development Capital, an Irish growth capital fund supporting ambitious, scaling Irish companies. In 2023, BiaVest also acquired German pasta manufacturer Riesa Nudeln. Alan Cunningham, Kerga's chief executive, Kerga, said today's deal is another major step forward in executing its European growth strategy. "We have a clear roadmap for further acquisitions and are focused on building a portfolio of premium brands and manufacturing assets in high-growth categories. Münsterland is an exceptional business with a proud heritage and a strong reputation for quality and innovation," he added. Manfred Fleige, Managing Director of Münsterland, said that joining Kerga marks a new chapter for Münsterland. "In Kerga, we have found a capital-strong partner with a great deal of expertise to support our ambition for the business, particularly in leveraging the site's growth potential. Kerga brings strategic vision, experience, and a long-term focus to help take the business to the next level," he said. "Together, we can unlock new opportunities, deepen and expand our co-manufacturing partnerships, and advance new production capabilities," he added. Hilliard Lombard, Kerga Chairperson and BiaVest co-founder, said that convenience food and beverage is a dynamic sector that demands versatility, innovation, and responsiveness to succeed. "Our acquisition strategy targets businesses with proven revenues of €20m-plus, strong track records, and clear scope for innovation and market expansion. Münsterland fits that profile perfectly, and we're excited about the role it will play in Kerga's next phase," he said.
Irish Times
01-07-2025
- Business
- Irish Times
Irish food and drinks investor Kerga acquires German drinks company
Irish convenience food and beverage investment company Kerga has acquired German drinks group Münsterland J Lülf. Kerga is jointly owned by Irish investment companies BiaVest and Development Capital. It was established by the two groups for the sole purpose of acquiring and developing a pan-European food business. It acquired Nomadic Dairy, which specialises in chilled snacks, from Donegal Investment Group in 2021 for an upfront consideration of €23 million. Kerga generated revenue of €30 million in 2023, which was up from €27.7 million the previous year. It made a profit of €1.7 million in the same year, up from €1.1 million in 2022. READ MORE Münsterland has annual revenues in excess of €25 million. Kerga expects combined revenues in excess of €60 million from 2026. It said Nomadic and Münsterland are on track to sell over 100 million units across Europe next year. BiaVest is a dedicated food-focused private investment fund founded by Hilliard Lombard and David McKernan in 2021. IATA Director General Willie Walsh on airline profits, air fares and why the Dublin Airport passenger cap makes Ireland a laughing stock Listen | 35:56 Its current revenue under management exceeds €100 million, and it employs more than 450 employees across its European-based portfolio of companies. Development Capital is a €75 million development and growth capital SME fund established in 2013 by Andrew Bourg and Sinead Heaney. It is backed by Irish and international investors and has completed 15 investments to date. Kerga said the acquisition of Münsterland was part of its strategy to build a European portfolio of nourishing convenience food and beverage businesses. Münsterland was established in 1889 and started developing milk-mix drinks in the early 1950s. It sells iced coffees, protein drinks, and natural energy teas produced in a variety of sustainable glass and aluminium formats to brands, including Jimmy's Iced Coffee, in more than 20 countries. Kerga said it sees 'significant growth potential' with Münsterland across both existing and new customers and markets. It said the acquisition complements its investment in Nomadic Foods and further strengthens its overall manufacturing and market access infrastructure, including for Nomadic's convenience snacking portfolio. Kerga said Nomadic, which is based in Killygordon, Co Donegal, is delivering 'strong growth' in the British and Irish markets. Kerga's growth strategy is supported by Bank of Ireland Corporate and Markets. Kerga chief executive Alan Cunningham said the group has 'a clear roadmap' for further acquisitions and is focused on building a portfolio of premium brands and manufacturing assets in high-growth categories. Kerga chairman and BiaVest co-founder Hilliard Lombard said: 'Our acquisition strategy targets businesses with proven revenues of €20 million-plus, strong track records, and clear scope for innovation and market expansion.'
Irish Independent
01-07-2025
- Business
- Irish Independent
Irish food investment group buys Germany's Munsterland
The German firm, founded more than a 100 years ago, is a market leader in non-carbonated ready-to-drink beverages for international brands. Its iced coffees, protein drinks and natural energy teas are sold in more than 20 countries. It has been acquired by Ireland-based Kerga. Kerga is jointly owned by BiaVest and Development Capital, an Irish growth capital fund supporting scaling Irish companies BiaVest is headed by co-founders Hilliard Lombard and David McKernan. Development Capital was founded by Andrew Bourg and Sinéad Heaney. This acquisition is another major step forward in executing Kerga's European growth strategy In 2023, BiaVest also acquired the leading German pasta manufacturer Riesa Nudeln. Kerga said it sees significant growth potential with Munsterland across both existing and new customers and markets. 'This acquisition is another major step forward in executing Kerga's European growth strategy,' said Kerga chief executive Alan Cunningham. 'We have a clear roadmap for further acquisitions and are focused on building a portfolio of premium brands and manufacturing assets in high-growth categories,' he added. Kerga added that the acquisition complements its investment in Nomadic Foods and further strengthens its overall manufacturing and market access infrastructure. Based in Co Donegal, Nomadic Foods makes a range of yoghurts and yoghurt-based drinks. Kerga said the food firm is delivering strong growth in the UK and Irish markets and that a key strategy for Nomadic is to expand internationally. Mr Cunningham is also the co-founder and CEO of Nomadic Foods. He previously held roles with companies including Donegal Investment Group and Kerry Group. Mr Lombard, the chairperson of Kerga, said that following the acquisition of Munsterland, the Irish food group expects to sell more than 100 million units of product across Europe next year. He added that Kerga continues to hunt for acquisitions. 'Our acquisition strategy targets businesses with proven revenues of €20m-plus, strong track records, and clear scope for innovation and market expansion,' he said. Kerga generated revenue of €30m in 2023, which compared to €27.7m the previous year. It posted a pre-tax profit of €2.1m in 2023, which was up from the €1.5m it made in 2022. The 2023 accounts primarily reflected Kerga's investment in Nomadic Foods. Of its revenue that year, €25.9m was generated in the UK, €4m in Ireland and €99,000 in other European markets.
