Irish food investment fund BiaVest buys German pasta firm Riesa Nudeln

The acquisition is BiaVest’s first in continental Europe and its fourth investment in two years.

Irish food-focused investment fund BiaVest has purchased German pasta company Riesa Nudeln for an undisclosed sum.

BiaVest has acquired an 80% stake in the pasta business, which has annual revenues exceeding €40m and employs 150 people.

The fund has previously invested in OffBeat Donuts and bought Donegal-based yoghurt maker Nomadic Dairy for €29m, but the latest deal marks the fund’s first acquisition in continental Europe and is its fourth investment in two years.

The Riesa brand is sold in supermarkets including Aldi and Lidl. The company has an annual production capacity of 25,000 tonnes of pasta, with the current investment programme set to double its output to 50,000 tonnes.

David McKernan was a co-founder of BiaVest in 2021. Picture: Maura Hickey

BiaVest was founded in 2021 by Hilliard Lombard, former CEO of bakery goods wholesaler Aryzta, and David McKernan, founder of coffee company Java Republic.

Under the terms of the deal, Mr Lombard and CFO Warren Codd will join the Riesa Nudeln board, contributing their expertise to enhance the company's strategic direction and growth. Andre Freidler and Olivier Freidler will continue to be involved in Riesa as advisers and as a 20% strategic shareholder.

The Freidler brothers will continue to operate and own their own food businesses, ALB-Gold, based in Swabia, Germany, and Al Dente, based in Detroit, USA.

Riesa Nudeln will continue to be led by chief executive Mike Hennig.