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

During the acquisition of L’OSTERIA by MCWIN CAPITAL PARTNERS in 2023, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.5x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of L’OSTERIA when it was acquired by MCWIN CAPITAL PARTNERS?

The exact EV/EBITDA multiple for L’OSTERIA is available on mynth capital. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.5x. Join our community for free to access full valuation data and industry trends.

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. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

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

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 LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.5x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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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.

Ent. Value

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Multiples Analysis

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Historical Financials (EUR)

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2021

Other operations with L’OSTERIA

Date	Acquirer	Target	Country	Sector	Deal Context
08/2025	L’OSTERIA	PIZZA PILGRIMS	UNITED KINGDOM	Hospitality & Leisure	L’Osteria (backed by McWin Capital Partners) agrees to acquire a majority stake in Pizza Pilgrims. The transaction is structured as a strategic partnership: Pizza Pilgrims will remain an independent brand, with founders Thom and James Elliot staying involved full‑time, while Gavin Smith and Sophie Gilchriest are promoted to CEO and CFO, respectively, to lead the next phase of growth. L’Osteria intends to use its experience in Italian casual dining, multi‑country operations, and supply chain / site‑roll‑out knowledge to support Pizza Pilgrims’ “measured expansion” in the UK and its international ambitions in Europe, including potential new markets and additional sites. The group aims to grow Pizza Pilgrims from 25 to around 38 locations by 2027. The founders describe the partnership as a “one‑plus‑one‑equals‑three” model, emphasizing strong cultural alignment and shared passion for Italian‑style hospitality.

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 150M - 250M EUR

Note: Detailed and exact financial metrics (Enterprise Value, Revenue, EBITDA, and precise Multiples) are reserved for Mynth community members. Register for free to unlock full data.

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: l’osteria

Acquirer: mcwin capital partners