Alan Cunningham, Chief Executive, Kerga, said:

“This acquisition is another major step forward in executing Kerga’s European growth strategy. We have a clear roadmap for further acquisitions and are focused on building a portfolio of premium brands and manufacturing assets in high-growth categories. Münsterland is an exceptional business with a proud heritage and a strong reputation for quality and innovation. We are excited to support and build on that success. We look forward to working closely with the Münsterland team, including Manfred Fleige, Gunter Spiekermann, and Verena Hauling, and backing their ambitious plans to grow the business in the years ahead.”

Hilliard Lombard, Kerga Chairperson and BiaVest Co-Founder, said:

“With Münsterland joining the group, we expect to sell over 100 million units across Europe next year, representing a strong foundation for further growth. Convenience food and beverage is a dynamic sector that demands versatility, innovation, and responsiveness to succeed. That mindset has served Nomadic well, driving steady growth in an intensely competitive market. Our acquisition strategy targets businesses with proven revenues of €20 million-plus, strong track records, and clear scope for innovation and market expansion. Münsterland fits that profile perfectly, and we’re excited about the role it will play in Kerga’s next phase. We also greatly value the continued support of Daniel Leddy and the team at Bank of Ireland Corporate and Markets who have played an important role in enabling our growth strategy.”

Andrew Bourg, Kerga Director and Co-Founder of Development Capital, said:

“Development Capital is delighted to support Kerga in this acquisition and we warmly welcome everyone from the Münsterland team.  We believe that Münsterland will add real momentum to Kerga’s European growth strategy.”

Manfred Fleige, Managing Director, Münsterland, added:

“Joining Kerga marks a new chapter for Münsterland. We are proud of what we have achieved and excited about the future. In Kerga, we have found a capital-strong partner with a great deal of expertise to support our ambition for the business, particularly in leveraging the site’s growth potential. Kerga brings strategic vision, experience, and a long-term focus to help take the business to the next level. Together, we can unlock new opportunities, deepen and expand our co-manufacturing partnerships, and advance new production capabilities. We look forward to the journey ahead.”

Advisers

Kerga was advised by:

• Legal: led by Eavan Saunders, Dentons Ireland; and Phillip Becker and Jeannette Meyer, Dentons Germany

• Finance and Tax: led by Andrew Gallagher, KPMG Ireland and Armin Stolz, KPMG Germany

• M&A: led by Adrian Fröhling, Matterling Corporate Finance

Münsterland’s sellers, Lafayette Mittelstand Capital and Mr. Melchior Ferdinand Lülf, were advised by:

• Legal: Dr. Fabian Brocke and Maximilian Dieler, ACT Legal

• M&A: Arnold Holle and Benedikt Boener, Carlsquare Corporate Finance

About Kerga
Kerga, a holding company established by BiaVest and Development Capital, acquires, manages, and develops nourishing convenience companies in the food and beverage sector. Our portfolio includes Nomadic Foods, a brand specialising in chilled snacks, and Münsterland, a market leader in premium non-carbonated Ready-to-Drink beverages. Combined, these companies are on track to sell over 100 million units in over 20 European countries. Kerga’s strategy is to build a portfolio of premium brands and manufacturing assets in high-growth categories. We back businesses with €20M+ revenues, solid track records, and clear room for innovation and expansion.

About BiaVest
BiaVest is a dedicated food-focused private investment company. Founded in 2021, its current revenue under management exceeds €100 million with over 450 employees working across its European-based portfolio of companies.

About Development Capital
Development Capital is an Irish development and growth capital fund manager. Founded in 2013 by Andrew Bourg and Sinéad Heaney, providing development and growth funding ranging from €2-12 million to ambitious SME management teams which have significant growth opportunities, primarily in export markets which require growth funding to unlock or accelerate. To date, it has completed 15 investments.