ONE ROCK CAPITAL PARTNERS takes majority stake in EAT HAPPY GROUP
Context
The transaction is structured as a significant strategic investment by One Rock Capital Partners into Eat Happy Group to simultaneously fund the acquisition of Hana Group's European operations. This corporate combination merges two highly complementary convenience food providers to establish an integrated pan-European fresh food platform. The institutional capital injection secures the necessary funding to combine corporate assets without overleveraging the target's balance sheet. Upon completion, the combined operating structure will control approximately 5,800 points of sale across fourteen European nations. This expanded geographic reach offers immediate diversification by introducing the Eat Happy brand into premium markets including France, the United Kingdom, and Spain. The industrial integration combines Hana's live-cooking kiosk expertise with the German operator's established chiller and shop-in-shop distribution formats. Supermarket partners will gain access to a highly flexible product assortment, maximizing retail sales volumes per square meter of store floor. Closing remains subject to mandatory consultations with relevant European works councils and customary anti-trust regulatory clearances. Willkie Farr & Gallagher provides exclusive legal advisory services to the acquiring sponsor.
EAT HAPPY GROUP, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a level the average currently observed in the AgriFood sector (11.0x).
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Target
Eat Happy Group, based in Germany, operates as a producer and distributor of freshly prepared Asian convenience food concepts sold through retail grocery store footprints and supermarket kiosks. The company installs autonomous shop-in-shop modules and dedicated chiller units directly within high-traffic grocery aisles. This physical placement converts routine supermarket foot traffic into immediate, high-margin food transactions at the point of care. The retail network spans approximately 4,300 points of sale across seven European countries under regional brands including Yuzu and Wakame.
Ent. Value
Equity Value
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EV / EBITDA
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Historical Financials (EUR)
Other operations with EAT HAPPY GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2026 | EAT HAPPY GROUP | HANA GROUP EUROPE | FRANCE | Food Products |
REFERENCES
Valuation range: EV 1b - 4b EUR
EBITDA range: 100M - 200M EUR
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Press release: view release
Target: eat happy group
Acquirer: one rock capital partners