Bakery Linauer & Wagner joins with Ankerbrot
The Lower Austrian industrial bakery Linauer & Wagner has joined forces with Ankerbrot . The previous owners – Brigitte and Karl Linauer as well as the bakery Wagner BetriebsgmbH & Co KG – sold 65 percent of the company to Ankerbrot AG. The owners were advised by the law firm Baker McKenzie, who will also assist in the upcoming restructuring of the bakery.
In its 19 branches in Vienna, Lower Austria and the Burgenland state, the bakery Linauer & Wagner serves around 5,000 customers per day, and more than 15,000 customers make use of the home delivery service "Karl's Backgenuss". With almost 1,500 commercial customers, in particular from the retail and catering sector, the bakery has a second mainstay. Linauer & Wagner employs more than 340 employees.
No changes will be made to the branch structure of the two companies. However, Linauer & Wagner products will also be offered in Anker branches in the future.
The challenge with respect to this transaction was not only the complex structure of the companies and assets, but also the need to restructure the industrial bakery,
Wendelin Ettmayer explains. The M&A partner at Baker McKenzie and his team are not only responsible for the acquisition, but will also assist in the restructuring of the bakery in the weeks to come.
Advising on reorganization and restructuring has become a key focus of Baker McKenzie's corporate practice in Vienna. In recent years, they, e.g., advised the Valartis Group in connection with its withdrawal from regulated activities in Austria (including the sale of its banking business), FCC Construcción in connection with disputes under corporate and insolvency law relating to the insolvency of the Alpine Group, or Beyne NV in connection with the acquisition of assets within the scope of the insolvency of Vogel & Noot Landmaschinen (with liabilities amounting to EUR 17 million, one of the largest insolvencies in 2016).
Legal advisors previous shareholders: Baker McKenzie
Corporate/M&A: Dr. Wendelin Ettmayer (Partner, Vienna)
Other attorneys involved:
Corporate/M&A: Mag. Stephanie Sauer (Associate, Vienna), Mag. Pablo Essenther (Junior Associate, Vienna), Mag. Michael Schaunig (Junior Associate, Vienna)