MyMuesli: Is an investor going out?

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The MyMuesli founder

Philipp Kraiss, Max Wittrock and Hubertus Bessau (from left) are in talks with the investment bank Harris Williams and are talking with prospective buyers.

(Photo: STAR PRESS / AEDT)

Dusseldorf"Dear Muesli Friends," begins an open letter with which the three founders of MyMuesli on Friday tried to smooth the waves. Reported the "Lebensmittelzeitung", the Passau flagship start-up sound a sale. "We three have not lost the appetite for breakfast grains," emphasize Max Wittrock, 36, Philipp Kraiss and Hubertus Bessau (both 38). "We shareholders will neither carry out a new capital increase nor will we sell shares at the moment," they clarify.

However, they confirm that they are currently working with investment bank Harris Williams and talking to prospective buyers. Since 2016 Genui Partners owns 40% of the shareholders. As an investor Genui must generate a return. But this need not necessarily be done through a sale of all shares.

Since 2007, joy has built up a flourishing online shop for individualized cereal mixes – not in the hip founder capital of Berlin, but in the remote Donaustadtchen Passau. There they studied: Kraiss and Bessau Business Administration, Wittrock Jura.

"They all thought they were crazy," says a start-up investor. Meanwhile, MyMuesli sells with about 700 employees in nine countries – online and in supermarkets. The first own store opened in 2009 in Passau. MyMuesli was at the forefront of connecting the internet and stationary markets. In the meantime, many online shops are decorating their own stores – from MyToys to Home24, But with more than 50 costly own stores, the Passauer had been superior. MyMuesli slipped into the loss zone. Today there are only 29 branches left.

According to "Lebensmittelzeitung", there are offers from numerous potential buyers, via names such as Unilever or PepsiCo is speculated. After all, companies with hip brands want to open up younger target groups. However, the MyMuesli owners sought a three-digit million euro rating, with a turnover in 2017 of just under 59 million euros. Recently, the online business has grown by more than 20 percent, according to the founders of MyMuesli. In addition to growth, the focus should be more on profitability. The three do not want to sell right now.

"Maybe we have another investor, maybe we make an initial public offering or someday actually say: From now on, someone else can do better", write Bessau, Kraiss and Wittrock. But this time had not come yet.

More: The competition for innovative food concepts is growing. Like the family business Oetker repositions himself.

Handelsblatt Future Mittelstand Newsletter

. (tagsToTranslate) MyMuesli (t) Onlineshop (t) Food (m) Muesli (t) Company Formation (t) Sales (e) E-Commerce (m) Mergers & Acquisitions M & A (t) Entrepreneurs (t) myToys (t ) Unilever (t) Home24 (t) PepsiCo (t) Philipp Kraiss (t) Max Wittrock (t) Hubertus Bessau (t) Food (t) Retail (t) Retail

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