Noerr advises banking consortium on refinancing of FR L’Osteria SE

A Noerr team led by Alexander Schilling and Martina Buller has advised a banking consortium led by UniCredit on the successful refinancing of FR L’Osteria SE.

The new financing, completed in September 2025, establishes a solid foundation for the restaurant group’s further expansion in Europe. As a result, L’Osteria is strengthening its financial flexibility and gaining additional scope to implement its growth strategy, which also includes acquiring a majority stake in the British restaurant brand Pizza Pilgrims.

FR L’Osteria SE, headquartered in Munich, is one of the leading restaurant companies in the casual dining sector. Since its foundation in 1999, the company has experienced continuous growth and now operates in ten European countries, with over 200 restaurants and approximately 8,500 employees.

Advisors to the banking consortium: Noerr Partnerschaftsgesellschaft mbB

Alexander Schilling (partner), Martina Buller (associated partner), Jonas Strubel (associate, all Banking & Finance, Frankfurt)

Andre Happel (partner), Antonia Bach (senior associate, both Tax, Frankfurt)