Germany’s Eat Happy Group is currently in discussions to merge with the European operations of sushi supplier Hana Group. This potential merger is backed by a strategic investment from One Rock Capital Partners, as announced in a joint statement on April 1.
In regard to this development, Hana Group’s CEO, Eduardo Romero, stated: “One Rock’s experience investing in and growing businesses in the food and beverage sector, alongside Eat Happy’s platform, would strengthen our capabilities as we continue to serve our customers and partners.”
Hana Group offers sushi and Asian-inspired foods across Europe, operating over 1,500 points of sale in 12 countries. Its diverse portfolio includes 20 brands such as Sushi Gourmet and Genji.
Founded in 2013, Eat Happy focuses on crafting and distributing “fresh” Asian convenience food, with brands like Yuzu and Fresh Kitchen. The company operates in seven European countries, reaching approximately 4,300 points of sale through retail partnerships.
Notably, Hana possesses a well-established network in markets where Eat Happy has faced challenges, including the UK, France, Spain, and Belgium. This merger is anticipated to accelerate Eat Happy’s production and distribution capabilities while equipping Hana with innovative formats for continued growth.
If finalized, the combined entity would serve around 5,800 points of sale across 14 European nations—significantly enhancing market reach.
Eat Happy CEO Dr. Johannes Steegmann expressed, “This combination would bring together complementary strengths across geographies, formats, and product offerings, enabling us to deliver tangible value to retail partners and their customers.”
Permira has acted as the majority shareholder of Hana Group since 2019. The proposed deal would signify a complete realization of Permira’s investment in Hana’s European operations, although it will continue to have a stake in Hana’s operations in the US.
Pedro López, a partner at Permira, remarked: “This contemplated combination with Eat Happy, alongside the support from One Rock, is a reflection of the strategic value that we have collectively built over the years, and we wish them the very best for the next phase of growth.”
It’s important to note that completion of this merger is contingent on mandatory consultations with relevant works councils and customary regulatory approvals.
Furthermore, Dr. Steegmann, who took the helm at Eat Happy in November 2024, previously held influential positions at Fressnapf, Rewe, and McKinsey.
