One Rock Capital Partners, LLC ("One Rock") today announced that EAT HAPPY GROUP ("EAT HAPPY") and the European operations of Hana Group SAS ("Hana") have successfully completed their previously announced combination, supported by a strategic investment from One Rock. Following receipt of all required regulatory approvals, the transaction has now closed. The combined business will operate under the name Eat Happy Hana Group.
Eat Happy Hana Group brings together two businesses with complementary geographic footprints, concepts and capabilities to form a pan-European platform for ultra-fresh Asian and convenience food. The combined platform serves approximately 5,800 points of sale across 14 European countries and is well positioned for continued growth, innovation and long-term retail partnerships across Europe.
"We were attracted to the opportunity by the resilience and growth potential in this market segment, the depth of retail relationships and the caliber of the management teams of each business," said R. Scott Spielvogel, Managing Partner of One Rock Capital Partners. "Eat Happy Hana Group enters the One Rock portfolio with a strong foundation, and we look forward to working closely with management to support the next phase of growth for the business."
"The merger gives us a compelling opportunity to combine ideas, expertise and successful formats from across Europe. By accelerating the exchange of innovative concepts and best practices, we believe we can bring new and exciting fresh convenience solutions to our customers and retail partners more quickly than ever before," said Dr. Johannes Steegmann, CEO of Eat Happy Hana Group.
"EAT HAPPY and Hana share a common passion for quality, freshness and customer focus. We are excited to combine our expertise and embark on this new chapter together," said Luca Mammola, CFO of Eat Happy Hana Group. "We are also pleased to have One Rock's experience in food and beverage manufacturing and distribution supporting us as we execute on the potential of this combined platform."
Deutsche Bank and RBC Capital Markets served as financial advisors and Willkie Farr Gallagher LLP served as legal advisor to One Rock on the transaction.
ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerock.com.
ABOUT EAT HAPPY HANA GROUP
The Eat Happy Hana Group is a leading European provider of freshly prepared sushi, Asian-inspired cuisine, and ultra-fresh convenience food concepts. With a portfolio of more than 20 brands and approximately 5,800 points of sale across 14 European countries, the Group serves millions of consumers every day with high-quality, freshly prepared products. Through innovative food concepts, strong retail partnerships, and a customer-centric approach, the Eat Happy Hana Group is shaping the future of the fresh convenience food category in Europe. For more information, visit www.eathappyhanagroup.com.
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Contacts:
MEDIA CONTACT
Profile Advisors
Pro-onerock@profileadvisors.com
Christina Gehlen
Lead Corporate Communications
c.gehlen@eathappygroup.com
