Legal firm Muckle has advised Newcastle-based NOVELTEA on securing a €450,000 international deal on what is known as German TV’s equivalent to Dragons’ Den.
The firm which manufactures and sells alcoholic tea blends, secured an investment with Lioness Dagmar Wöhrl on Die Höhle der Löwen, which translates as ‘The Cave of Lions’.
Wöhrl, is a politician and businesswoman and agreed to the deal for 15 per cent of the business.
Muckle worked to cement the deal, which is NOVELTEA’s largest investment to date, having previously helped to deliver two rounds of crowdfunding and a Chinese distribution deal.
“The company has followed a creative investment path and growth strategy which is now paying dividends, endorsed by the confidence shown in the business by its latest investor,” said Amy Wanless, senior associate in the corporate team at Muckle.
“It’s been fascinating to work with Lukas and Vincent from the very early stages as they have grown and developed NOVELTEA over the last three years.”
NOVELTEA co-founder Vincent Efferoth added: “Dagmar Wöhrl is extremely well placed to introduce us to key people and NOVELTEA is already available in 30 of her hotels.
“Legal advice is critical for any growing business and it is so valuable when you find the right partner that understands your objectives and can work towards them with you from the start. We believe we have found this partner in Muckle and we are delighted with the advice we have had from Amy and the team over the last three years.”