Saucenfritz, a start-up firm from the Weissensee district of Berlin, has successfully been rescued. Just a few months after insolvency was requested by the producer of high-quality organic sauces, dips, ketchup, spreads, pesto and vegan mayonnaise, insolvency administrator Stefan Ludwig of Schultze & Braun worked together with FalkenSteg to find an investor for the business. As of 6 March, Berlin-based Saucen Kontor GmbH has taken on all of Saucenfritz’s employees.
Just a few months after insolvency was requested by the producer of high-quality organic sauces, dips, ketchup, spreads, pesto and vegan mayonnaise, it was possible to find an investor for the business. As of 6 March, Berlin-based Saucen Kontor GmbH has taken on all of Saucenfritz’s employees. Saucen Kontor GmbH is part of a group of companies based in the city of Bremen, which also includes Laux (in Föhren, Rhineland-Palatinate), Bremer Feinkost and Feinkost Manufaktur (at Valenbrook estate in Geestland, Lower Saxony).
“This is an outstanding result in a market that’s far from simple,” says Ludwig, the insolvency administrator. “It was particularly important to me that we wouldn’t just be keeping the business running – I was also keen to ensure that its founder, Jan Daniel Fritz, remained on board, allowing the start-up to keep hold of the creative mind behind its sauce creations.”
Ludwig had kept the food maker’s commercial and production operations running seamlessly without imposing any limitations since his appointment as preliminary insolvency administrator in November 2018. “Consumers and food retailers placed their trust in us, which helped to ensure that sales remained stable. That played a major role in Saucenfritz’s recovery”, Ludwig adds.
Shortly after the process began, the insolvency administrator started looking for potential interested parties with support from the FalkenSteg Corporate Finance advisory team, which specialises in critical situations. “The responses to our targeted search were encouraging. In the end, the group from Bremen offered the most convincing plan,” Ludwig says. “I also think the Saucenfritz products complement the Bremer Feinkost range really well. Bremer Feinkost also makes a point of producing handmade, high-quality food, making the two businesses a perfect match for each other in terms of ethos.”
Schultze & Braun Rechtsanwaltsgesellschaft für Insolvenzverwaltung mbH
Stefan Ludwig (Insolvency Administrator)
Schultze & Braun is a leading provider of insolvency administration and advisory services for companies in crisis situations. With roughly 700 employees at over forty locations in Germany and other European countries, Schultze & Braun is one of the few one-stop shops for legal and business administration expertise on the market. Whether on a regional, national or international level, Schultze & Braun assists companies with all recovery and restructuring issues, guiding them through crisis and insolvency situations or showing how they can avoid insolvency altogether. In addition, Schultze & Braun provides consulting services and representation to clients requiring conventional business, legal and tax advice.
Johannes von Neumann-Cosel (Partner)
Georg Nikolaus von Verschuer (Director)