Ad-hoc Vapiano

Vapiano SE sells the major part of its business to investor group

Cologne, June 2, 2020: The creditors' committee today approved the sale of the essential part of the business of Vapiano SE and its subsidiaries in Germany. A consortium led by Mario C. Bauer will take over the business in a mixed asset/share deal for a total purchase price of EUR 15 million.

The transaction includes 30 restaurants operated by Vapiano in Germany. The sale of these restaurants includes fixed assets (furniture and equipment), inventories and intangible assets and is subject to customary closing conditions. In addition, the national and international franchise business and the associated franchise companies as well as the shares in the joint ventures in Münster/Osnabrück, Bielefeld, Ulm and Australia are being sold.

The remaining assets of Vapiano SE will still be sold.

The consortium had already submitted an irrevocable offer for the French business two weeks ago; the purchase price for this business has now been increased by 3 million euros to 25 million euros. The offer is expected to be accepted in the next few days.

At the same time, the Local Court of Cologne has opened the insolvency proceedings of Vapiano SE with effect from June 1, 2020 and appointed Dr. Ruth Rigol of PLUTA Rechtsanwalts GmbH as insolvency administrator.

As of today, and with effect from June 30, 2020, the Chairwoman of the Supervisory Board Vanessa Hall, the Deputy and Interim Chairman of the Supervisory Board Hinrich Stahl and the Supervisory Board members Helge Lützen, Kristian Wettling und Ado Nolte and, already some time ago, Helen Jones resigned their mandates.

Dr. Ruth Rigol, liquidator Vapiano SE