{
  "id": 3199152,
  "title": "Fressnapf-Gründer: Torsten Toeller holte einen Finanzinvestor in sein Unternehmen – das hat der Milliardär daraus gelernt",
  "url": "https://urgent.news/2026/08/25/fressnapf-grunder-torsten-toeller-holte-einen-finanzinvestor-in-sein",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-25T05:42:00.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/unternehmen/mittelstand/familienunternehmer/fressnapf-gruender-holt-finanzinvestor-in-die-firma-und-teilt-seine-lehren/100247106.html"
  },
  "original_language": "de",
  "account": "Torsten Toeller, the founder of Fressnapf, brought in a financial investor, Cinven, to his company. This move taught him valuable lessons. Toeller admitted that private equity firms are notorious for looking first at the costs. He explained that efficiency improvements were achieved, particularly through a strategic shift from a centralized to a more decentralized structure. This led to the relocation of some tasks and jobs away from the central office, where employees now have more responsibility closer to their customers, in different countries. This change resulted in the company having 200-250 fewer positions out of over 20,000 employees in 15 countries. Toeller emphasized that the partnership with Cinven was not driven by cost-cutting, but rather by a clear plan for value creation. He explained that when he founded Fressnapf 36 years ago, he didn't know the terms \"private equity\" or \"venture capital.\" He built the company primarily on cash flow and a few bank loans. He observed how other companies with private equity partners could grow quickly and Fressnapf wanted to remain the market leader in Europe and gain more market share. To achieve this, they needed to be present in larger countries, which required more investment. Cinven holds around 15% ownership in Fressnapf, but Toeller sees them as a valuable strategic partner with a minority stake. He believes that if Cinven had a majority stake, it would have been more difficult to let go. Toeller turned 60 in April and decided it was the right time to think about the future. His goal is to make the company independent from him by creating more professional structures and governance.",
  "summary": "Mit Investor Cinven hat sich Fressnapf radikal fokussiert. Im Interview verrät der Familienunternehmer, was auf der Strecke blieb, ob er es wieder tun würde – und was er nun noch vorhat.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Handelsblatt",
        "title": "Fressnapf-Gründer: Torsten Toeller holte einen Finanzinvestor in sein Unternehmen – das hat der Milliardär daraus gelernt",
        "url": "https://urgent.news/2026/08/24/fressnapf-grunder-torsten-toeller-holte-einen-finanzinvestor-in-sein",
        "published": "2026-08-24T05:21:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}