At what enterprise value was L’OSTERIA acquired in 2023?

During the acquisition of L’OSTERIA by MCWIN CAPITAL PARTNERS in 2023, the transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR.

When was L’OSTERIA acquired by MCWIN CAPITAL PARTNERS?

L’OSTERIA was acquired by MCWIN CAPITAL PARTNERS in 2023.

What was the revenue of L’OSTERIA at the time of the deal?

The revenue of L’OSTERIA at the time of the deal is estimated to be in the range of 150M - 250M EUR.

How is the data for the L’OSTERIA acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the L’OSTERIA deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://mcwin.fund/wp-content/uploads/2025/09/McWin-to-acquire-majority-stake-in-leading-German-restaurant-brand-LOsteria-to-further-drive-European-growth-Jan-2023.pdf

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Home Database Retail & ConsumerL’OSTERIA

01/2023

L’OSTERIA acquired by MCWIN CAPITAL PARTNERS

GERMANY Hospitality & Leisure / Hospitality / Restaurants / Chains EV 300M - 700M EUR

Context

The McWin Restaurant Fund agrees to acquire a majority stake in L’Osteria. The transaction is structured as a control‑buyout in which founders Klaus Rader and Friedemann Findeis remain significant minority shareholders, alongside CEO Mirko Silz and the existing management team, ensuring continuity of leadership and brand identity. The investment is one of the flagship deployments of the McWin Restaurant Fund, underlining McWin’s conviction in the European casual‑dining sector despite near‑term macro headwinds. The partnership aims to accelerate L’Osteria’s expansion in Germany, further densify the DACH footprint, and push the concept into additional European markets, leveraging McWin’s in‑house expertise, capital, and restaurant‑platform capabilities. The deal is expected to close in Q1 2023, subject to customary regulatory approvals, and is advised on the buy‑side by Bryan Cave Leighton Paisner (legal) and KPMG (financial), while the L’Osteria side uses Ferber & Co and Deutsche Bank (M&A), Dechert LLP (legal), and PwC and Steiner & Partner (tax and financial).

L’OSTERIA, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (10.6x).

-> Deep-dive in Retail & Consumer market trends

Target

L’Osteria is a leading German‑based casual dining group specializing in high‑quality, affordable Italian food, founded in 1999 by current shareholders Klaus Rader and Friedemann Findeis. The group operates under the positioning of a “nice Italian next door” but with a scalable, replicable restaurant format that combines fresh pasta, pizza, and Italian dishes in a warm, family‑oriented, “La Famiglia”‑driven environment. At the time of McWin’s investment, L’Osteria ran 157 restaurants across 8 European markets (primarily DACH, plus the UK, France, Luxembourg, the Netherlands, and the Czech Republic) and a strong brand‑recognition footprint in Germany as the clear market leader in Italian‑themed casual dining.

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Other operations with L’OSTERIA

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
08/2025	L’OSTERIA	PIZZA PILGRIMS	UNITED KINGDOM	Restaurants / Chains

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 150M - 250M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of L’OSTERIA by MCWIN CAPITAL PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: l’osteria

Acquirer: mcwin capital partners