Raue advises Haferkater on buy-out of existing investors

Berlin — Raue has advi­sed the Berlin-based food start-up Hafer­ka­ter on the buy-out of its previous inves­tors and the conver­sion to respon­si­ble owner­ship. The new inves­tors do not hold any voting rights in Hafer­ka­ter; 99% of the voting rights are now held by the manage­ment and foun­ders of Hafer­ka­ter. Accor­ding to the artic­les of asso­cia­tion, at least 51% of the voting rights must conti­nue to be held by employees of Hafer­ka­ter GmbH. After payment of a limi­ted return to the new inves­tors, 100% of the profit rights remain with Hafer­ka­ter. The conver­sion to steward-owner­­ship and the new invest­ments will ensure that Hafer­ka­ter can conti­nue to operate inde­pendently in the future and can no longer be sold. These struc­tures place control over company decis­i­ons in the hands of those who also manage the company and keep the focus on the core busi­ness: Porridge to go at busy trans­por­ta­tion hubs. Former inves­tors were Katjes Green­food and Zentis Ventures, who supported Hafer­ka­ter with their many years of trust and ulti­m­ately made the trans­for­ma­tion possi­ble. The new inves­tors are Purpose Ventures, Cantella, Karma Capi­tal and private inves­tors. Purpose Ventures is part of the PURPOSE network and accom­pa­nies and invests in compa­nies in respon­si­ble owner­ship and those that want to become one. Hafer­ka­ter has imple­men­ted respon­si­ble owner­ship with the help of the Purpose Foundation’s veto share model. This foun­da­tion holds one percent of the voting rights in Hafer­ka­ter and is obli­ged to use its veto power to block any chan­ges to the artic­les of asso­cia­tion that run coun­ter to the prin­ci­ples of steward-ownership. 

Advi­sor Hafer­ka­ter GmbH: Raue, Berlin
Dr. Jörg Jaecks, photo (Part­ner, Venture Capi­tal, M&A, Corpo­rate Law) About Raue

Raue is an inter­na­tio­nal law firm based in Berlin. The firm advi­ses natio­nal and inter­na­tio­nal compa­nies and public corpo­ra­ti­ons compre­hen­si­vely on invest­ment projects, tran­sac­tions, regu­la­tory issues and disputes.

Further infor­ma­tion can be found at www.raue.com.