According to German retail magazines FAZ and Lebensmittelzeitung, the insolvency of René Benko’s Signa has cost Fressnapf founder Torsten Toeller nearly 200 million euros. Toeller had reduced his stake in Signa Holding from 5% to 4.46% and, despite an option to return his investments at a fixed price, faced significant losses. His investments were managed through Fressnapf Luxembourg, but his family office Allegro Invest SE’s balance sheet will only reduce slightly from 1.64 billion euros to 1.5 billion euros. Fressnapf’s core business and Allegro Invest SE remain profitable with a healthy equity structure.
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