Warsteiner was advised on the investment by Luther, while Binnewies Henkelmann carried out certification.
Founded in Augsburg by Andre Klan and Cathy Hummels, Hye sells ‘flavoured functional water’ that has been enriched with vitamins, minerals and fruit and plant extracts. The start-up’s existing investors prior to Warsteiner’s involvement include Little Lunch founders Denis and Daniel Gibisch.
The purchase of a minority stake in Hye comes as part of Warsteiner’s continued focus on expansion. Since the private brewery’s founding in 1753, the bulk of its strategy has been centred on acquisitions enhancing its core beer business, but it has also sought out investment opportunities in new business areas.
GRUB BRUGGER advised Hye with a team led by partner Hendrik Wolfer.
Hendrik Wolfer, Grub Brugger:
Hye is still a very young start-up. We brought together the views and interests of the founders and provided legal support for the negotiations with Warsteiner’s M&A team. I have worked successfully with Hye’s founding team in the past because of this shared history the founders already had experience with transactions. Therefore we are a well-coordinated team and have been able to set up a very lean process.
Due to the complexity of such transactions, the advisory effort for newcomers is usually intensive, which was not the case here. We were therefore able to concentrate on the corporate and contractual aspects for which I was responsible; IP issues were handled by my partner, Dr. Michael Jilek. Since all parties involved were very willing to find solutions, the transaction was closed quite smoothly.
A start-up already has a different corporate culture than a large and globally known company. When such differences meet, it requires a lot of understanding of the perspective of the other side. All parties involved have managed this excellently here. In this way, the combination of the innovative team from Hye and the experience and size of Warsteiner will be an ideal cooperation.
My wish for Hye is that sales can be multiplied in the shortest possible time with the new investment. This will open up the functional beverage market in Germany and Europe.
