MCF supports Convini on their majority investment in “How I Like”
Convini, the leading Swedish supplier of innovative food and beverage solutions for companies, has completed a majority investment in German Food Tech start-up My Minute Meal GmbH (“My Minute Meal”), operating under the brand “How I Like”. Through this transaction, Convini is well-positioned to enter the German market, which is highly attractive for in-office smart fridge concepts and still largely untapped. Cross-border M&A expert MCF advised Convini and helped identify suitable German partners and facilitate the transaction through its proven ability to successfully originate and execute bilateral transactions.
The Deal
Convini’s majority investment in “How I Like” was completed in a two-step process, through the acquisition of a minority stake from Venture Capital investor Nestim GmbH and a subsequent investment through capital increase.
“How I Like” will continue its successful growth track under the strong Convini brand, profiting from the group’s 24 years of experience in the field. The founders of “How I Like”, Sven Forgber and Martin Michenfelder, will remain with the company and assume positions as Convini’s Country Heads for Germany. They will also retain a minority stake.
The Target
Founded in 2016 and headquartered in Oranienburg, Germany, My Minute Meal trades under the name “How I Like” and provides corporate clients with an intelligent catering system involving a smart refrigerator, an online payment and restocking system as well as corresponding services.
Clients Statement
Mats Palmquist, CEO, Convini, said: “The acquisition of “How I Like” marks an important step in our international expansion strategy. MCF has guided and supported us in the identification and approach of potential German partners and throughout the entire acquisition process. In particular, we appreciated the strong contribution MCF made in defining our search scope, as well as their impeccable process management – matching expectations of a Berlin start-up with those of an established, family-run Swedish company. We now look forward to working with Sven and Martin as our new German Country Heads and to bringing the successful Convini concept to Germany.”
About Convini
Founded in 1995 and headquartered in Stockholm Convini is the Swedish market leader in providing workplaces with integrated solutions for meals, beverages, coffee and fruit. With its 250 employees, Convini serves over 1,500 companies and over 130,000 consumers through self-service stores with refrigerators, freezers and built-in payment stations.
