Herter & Co. – Teneo Capital Advisory – Advised FR L’Osteria SE on Successful EUR 120 million Refinancing
Herter & Co. – Teneo Capital Advisory – successfully supported FR L’Osteria SE (“L’Osteria”) in the refinancing of its existing syndicated loan. With the new financing, the leading German restaurant brand is strengthening its financial foundation and laying the groundwork for the sustainable implementation of its European-wide growth strategy.
The new loan agreement was concluded in September 2025 with a consortium of six banks.
Building on the successful transaction, L’Osteria acquired a majority stake in the British restaurant brand Pizza Pilgrims in August 2025, among other strategic moves. This transaction marks an important milestone in building a European platform strategy and expands the brand portfolio with a creative and authentic Neapolitan pizza concept.
Jürgen Wallmann, CFO of L’Osteria, said:
“The expanded financing marks another successful milestone in our journey toward becoming the European champion in the casual dining sector. We were able to secure attractive terms, increase our financial flexibility and optimize contractual conditions. We are grateful to our banks for their trust and loyalty as reliable partners, and we are equally pleased to have welcomed new banking partners to L’Osteria. Herter & Co. provided valuable support throughout the entire financing process, offering advice on the optimal financing structure, the selection of suitable financing partners and the successful conclusion of contract negotiations.”
FR L’Osteria SE, headquartered in Munich, is a popular restaurant brand in the casual dining sector. Since its founding in 1999, the company has steadily expanded from Germany into additional markets and is now present in 10 European countries. L’Osteria specializes in Italian cuisine and is best known for its pizza and pasta. With more than 200 restaurants and over 8,500 employees, the company is among the leading players in the European market. By investing in a majority stake in Pizza Pilgrims, a London-based brand founded in 2012 and now operating across more than 25 locations in the UK, L’Osteria is expanding its brand portfolio and reinforcing its international platform strategy.
