Veganz Group Raises €7.1m From New Share Issue To Bolster “equity Base”

A Veganz vegan shop successful Berlin. Credit: Carolvegan/Shutterstock

Veganz Group has raised €7.1m ($8.2m) from an rumor of caller shares arsenic portion of an ongoing programme by nan publically listed vegan nutrient shaper and retailer.

Berlin-headquartered Veganz Group, which delivered a €4.8m nett nonaccomplishment successful nan 2024 fiscal year, said nan stock connection has “significantly strengthened its equity base”.

“The rumor of nan caller shares serves chiefly to fortify nan equity base, grow accumulation capacities and finance further institution growth,” nan proprietor of nan Veganz marque of confectionery, biscuits, cakes and cheeses said successful a banal speech filing.

A further superior raise is planned successful nan “coming weeks” via a backstage placement pinch “strategic investors” successful Germany and overseas, nan institution added. Those shares will beryllium issued astatine €15 each.

Founder and CEO Jan Bredack said successful nan filing: “The successful placement is an important milestone for nan Veganz Group. It demonstrates nan market’s assurance successful our maturation strategy and our sustainable business model.

“We are convinced that these superior measures will laic nan instauration for nan adjacent shape of maturation successful which we purpose to create important shareholder value.”

Earlier successful July, Veganz Group announced it was spinning off its Mililk plant-based beverage drinks business arsenic a intends to raise outer funds.

The institution said it had created Mililk FoodTech to “leverage hidden reserves wrong nan company” and successful “preparation for introduction of strategical investors” successful nan 3rd quarter.

“Advanced discussions” propose a “pre-money valuation” for Mililk of €80m, Veganz Group said astatine nan time.

Mililk is focused connected plant-based beverage alternatives but is successful nan R&D shape of processing juices, smoothies and functional beverages.

Meanwhile, Veganz Group said earlier this period that it planned to found six much accumulation plants successful Europe and was besides exploring mounting up a works successful nan US for Mililk plant-based beverage alternatives.

The completed caller stock offering “corresponds to astir 32% of nan company’s stock superior and voting rights”, Veganz Group said. Existing shareholders were granted subscriptions astatine an 11-to-4 ratio.

Veganz Group said successful May that it was looking to restructure nan company into 5 business units nether nan brands Veganz, Mililk, Happy Cheeze, Peas connected Earth and Orbifarm.

Vertical-farming business Orbifarm has already been sold for €30m to an unidentified “third party”.

In nan 2024 yearly results issued successful May, Veganz Group reported that rate and rate equivalents had shrunk to €800,000 from €5.3m successful 2023, while income dropped 34% to €10.8m.

It said nan DACH region, namely Germany, Austria and Switzerland, accounted for 95% of nan income full pinch Germany nan company’s largest marketplace astatine 81%.

Meanwhile, EBITDA losses for 2024 narrowed to €2.4m from €6.3m a twelvemonth earlier, and similarly, nan nett nonaccomplishment shrank to €4.8m from €9.5m.

Both gross and EBITDA for 2025 were forecast to beryllium level pinch 2024 successful position of existent amounts.