P+P advises Odewald KMU on the investment in the chain bakery Karl Schmidt GmbH

January 2017

The German private equity investor Odewald KMU (Berlin) has acquired a majority stake in Karl Schmidt GmbH. Karl Schmidt GmbH is headquartered in Oldendorf in Prussia and the family company has operated a chain bakery for four generations. With over 400 employees and more than 50 branches, the company is the market leader in the North Rhine-Westphalia region.

The managing partner, Karsten Schmidt, has partnered with Odewald KMU in order to support the continued growth of the company and establish a succession solution. Karsten Schmidt will remain very involved with the company and will stay in the leadership position in the future. In the next few years, the collective goal of the shareholders is to foster the company's successful growth, in particular by opening new, attractive locations. The parties have agreed to maintain confidentiality with regard to the details on the investment amount and other information related to the investment. Bremer Kreditbank AG carried out the transaction financing.

The investment is the second made by the new Odewald KMU II Fund. Odewald KMU invests in midsize, established companies that have demonstrated strong growth in the German-speaking market. The investors are primarily German institutional asset management companies and wealthy private investors. P+P Pöllath + Partners also supported Odewald KMU II Fund on its first investment in Betten Duscher GmbH.

In the course of this transaction, the following professionals advised Odewald KMU on tax matters

Other advisors included: Heuking Kühn Lüer Wojtek (legal, Cologne): Pär Johansson, Christoph Schork, Kristina Schneider; Ungeheuer Law (finance, Frankfurt a.M.): Christina Ungeheuer.