Lehmann Hotel und Gaststätten Holding GmbH
Growth you can taste: Participate in Bavaria’s Taco Bell expansion. Lehmann Hotel und Gaststätten Holding GmbH has proven that it can scale franchises — with four existing MMAAH locations and a mature operational foundation consisting of hotels, canteens, and long-term public sector contracts. Now comes Taco Bell: an exclusive license for Bavaria, with at least 15 locations planned over 5 years. As a holder of participation rights, you can receive a profit-dependent basic distribution of 7.5% p.a. of the nominal amount, as well as an additional surplus participation of up to 20% of the annual net profit in the event of success. BaFin has authorized the publication of the Securities Information Sheet. Minimum subscription: €1,000 nominal amount plus a 5% surcharge (total amount €1,050). "The acquisition of this investment is associated with significant risks and can lead to the total loss of the capital invested."
Sale ends at
IMPORTANT WARNING NOTICE pursuant to Section 4 (4) of the German Securities Prospectus Act (WpPG):
"The acquisition of this investment involves significant risks and may lead to the total loss of the invested capital. The Federal Financial Supervisory Authority (BaFin) has merely authorized the publication of the Securities Information Sheet (WIB). No substantive review of the offer has been conducted by BaFin. Please read the Securities Information Sheet (WIB) carefully before making an investment decision."
Who We Are.
Lehmann Gaststätten und Hotel Holding GmbH operates system gastronomy, hotels, and institutional catering under one holding umbrella. Our core business pillars include four operational MMAAH franchise restaurants, long-term catering contracts with clinics, schools, and public authorities, as well as an in-house facility management division. Holding the exclusive license for Taco Bell in Bavaria, we plan to open at least 15 locations over the next five years.
| Token-Name | Emittent | Emissionsvolumen |
|---|---|---|
| Lehmann Token | Lehmann Hotel und Gaststätten Holding GmbH | 7.500.000 |
"From Apprentice to Corporate Architect"
Christian Lehmann learned the hospitality industry from the ground up. His foundation includes a professional apprenticeship in hotel management, a second qualification as a chef, and a degree in Business Administration. He later honed his leadership skills managing the high-pressure VIP area of the Allianz Arena.
Since 2011, Christian has been a successful entrepreneur, building a diverse portfolio of hotels, catering services, canteens, and franchise operations. He is a seasoned hospitality expert and a specialist in multi-unit system gastronomy.

For decades, lucrative deals have gone to the same inner circle.
Private investors? Left out.
Why? Because access to these investments was missing.
That is changing now.
As featured in BILD
Through a tokenized participation right, you can participate in the success of the Bavarian Taco Bell rollout — via an experienced holding led by an expert who has already proven his ability to scale. Christian Lehmann built MMAAH from zero to four locations in Bavaria in under four years. Operational excellence.
Now, he opens the next chapter. Subscription amount: €1,000 nominal plus 5% surcharge (minimum subscription €1,050). Publication of the WIB authorized by BaFin. Available directly via the Intokia platform.
The Investment at a Glance
| Eckdaten | Details |
|---|---|
| Target return | 11–14% p.a. (Scenario: 7.5% p.a. profit-dependent, plus up to 20% of the annual net profit) |
| Term | 10 Years |
| Minimum Investment | €1,000 nominal amount plus 5% surcharge. The maximum subscription amount is determined by your individual investment capacity. For details, please refer to the document "Investment Capacity", available in the footer of this page. |
| Surcharge | 5% |
| Volume | 7.500.000 € |
| ISIN | DE000A41ZH94 |
"The participation rights of Lehmann Hotel und Gaststätten Holding GmbH are qualified subordinated. In the event of insolvency or liquidation, the claims of the participation rights holders will only be satisfied after all non-subordinated creditors have been fully satisfied. In such cases, the repayment of the invested capital may not be possible or may only be partially possible."
Post-Pandemic Resilience & Strategic Realignment
Lehmann Holding successfully weathered the pandemic and subsequently implemented a deliberate diversification strategy. This strategy effectively balances predictable, recurring revenue with high-potential, scalable growth.
Structural Stability: Long-term public sector contracts — including clinics, schools, and government agencies — provide a solid foundation of recurring revenue. This structure significantly reduces dependency on short-term consumer spending cycles and provides a reliable cash flow.
Scalable Growth: Our position as a multi-unit franchisee for MMAAH, combined with the exclusive license for Taco Bell in Bavaria, unlocks immense scaling potential. We leverage standardized operational processes and the power of global brand recognition to drive expansion and market penetration.
A Prime Example of Synergy: In-House Facility Management
Lehmann Holding systematically leverages group-wide synergies to drive efficiency. A tangible example is our dedicated in-house maintenance and facility management team.
By utilizing our own specialized craftsmen and equipment, we achieve significant advantages:
Reduced Operating Costs: Lower OPEX by eliminating third-party service margins.
Faster Time-to-Market: Drastically shortened lead times for the commissioning and rollout of new locations.
Operational Agility: Rapid response times for repairs and seamless execution of renovation measures.
The Strategic Bottom Line: This approach minimizes dependency on external contractors and ensures a cost structure that achieves greater economies of scale with every new location. We have built an infrastructure specifically engineered for rapid, efficient scaling.
Market Opportunity: Taco Bell Bavaria Direct investment access to the rollout of a global fast-food giant is a rare opportunity. Taco Bell is the world’s fifth-largest Quick Service Restaurant (QSR) brand, boasting over 8,000 locations. The brand’s trajectory in Spain serves as a strategic blueprint for what is possible: since reaching its 100th location in 2022, the brand has expanded by more than 50 additional sites in that market alone.
As Lehmann Gaststätten und Hotel Holding, we are proud to hold the exclusive license for at least 15 Taco Bell locations in Bavaria. Through the Lehmann Token, investors can participate in the financial upside of this expansion in the event of success.
Market Opportunity: MMAAH Concurrently, the Korean BBQ segment is surging across Germany. According to company reports, MMAAH is recording annual growth of approximately 30% p.a. Lehmann Holding already operates four MMAAH locations as a franchisee, with a strategic roadmap for further expansion.
Extensive Media Presence
The brand's media reach and resonance extend far beyond the borders of Bavaria, generating significant national attention. Lehmann Holding is proud to be among the select few franchise partners chosen for the German market expansion.
Executive Endorsement: Ian Cranna, General Manager of Taco Bell Europe, emphasized the strategic importance of this selection:
"Taco Bell’s market entry into Germany is built on our commitment to partnering with first-class franchise operators." (Source: Edelman/Taco Bell, Hot & Spicy Newsletter)
Experiences with Mr. Lehmann from successful professionals in the system gastronomy and hospitality industry.

Daniel Lugstein. Member of the Executive Management, Lehmann Group.
„I have been working with Mr. Lehmann for 20 years. I will invest €25,000 as soon as it is possible. Since I know the figures and fully support the vision, I am more than 100% convinced of the success." (Translated from German original)
"This reflects the personal assessment of the individual quoted. Past performance and personal convictions are not indicative of future results. The amounts mentioned are subject to Van Sterling Capital Ltd's individual investment capacity assessment"

Stefan Seibel. Currently a private investor; formerly an operator at Tank & Rast, including one of the largest facilities in Germany, and system gastronomy with 5 outlets at Möbel Mahler. Additionally, a gourmet shop at Via Del Gusto.
„I have known Mr. Lehmann for over thirty years and have been friends with him personally for just as long. In my opinion, the two food concepts, Taco Bell and MMAAH, should go through the roof. The expected return is a great incentive to invest €25,000." (Translated from German original)
Personal assessment of the individual quoted. Distributions are profit-dependent and not guaranteed. The amounts mentioned are subject to Van Sterling Capital Ltd's individual investment capacity assessment"
Macro View of Milestones: Roadmap through 2031
Phase 1 (2026): Issuance & Market Entry
Planned Milestones* - Completion of STO Phase 1 and BaFin-compliant execution. - Opening of the initial Taco Bell flagship stores in prime Bavarian locations. *These represent the company’s planning targets. Actual implementation may deviate from these objectives.
Phase 2 (2027 – 2028): Scaling & Expansion
- Rollout of additional Taco Bell locations across Bavaria - Expansion of the MMAAH portfolio to a total of 8 units - Completion of modernization initiatives across the hotel portfolio to optimize cost structures
Phase 3 (2029 – 2031): Establishing Lehmann Holding as a premier, diversified hospitality group in Southern Germany
- Achieving the target of 15 Taco Bell locations in Bavaria and further expansion of MMAAH units - Full realization of group-wide economies of scale in procurement and logistics - Positioning Lehmann Holding as a premier, diversified hospitality group in Southern Germany
Streamlined Decision-Making & Rapid Execution Lehmann Holding is led by Mr. Lehmann as the sole decision-maker, ensuring lean management structures and rapid response times. This agility is a key competitive advantage: when a prime location becomes available, the decision for acquisition and rollout can be made immediately, without the delays of traditional corporate hierarchies.
Fully Integrated Operational Ecosystem The Holding has internalized all critical business functions to ensure maximum efficiency and quality control. Our vertically integrated model includes:
Dedicated Talent Pool: In-house recruitment and staff development.
Scalable Infrastructure: Robust administrative and operational foundations.
In-house Facility Management: Integrated maintenance and construction capabilities.
Christian Lehmann
Christian Lehmann
CEO
Our Mission: True "Service-Performance"
We understand service in the literal sense: To serve and to perform.
Our goal is to create a sustainable experience for every guest – regardless of whether it is the daily catering in a school canteen or a modern brand experience in a Taco Bell restaurant.
Mr. Lehmann prioritizes this. He is surrounded by the best in each field. He says himself that he is lucky to be able to draw on a great talent pool.
This talent pool enabled him to establish the fourth MMAAH branch in Bavaria profitably in a very short time.
This knowledge and these experienced employees offer Lehmann Gaststätten und Hotel Holding a decisive advantage in building further MMAAH locations and in the rollout of at least 15 Taco Bell branches over the next 5 years.
The Investment Opportunity in Brief:
Minimum Term: 5 years.
Returns: Profit-dependent basic distribution of 7.5% p.a. of the nominal amount. In the event of success, an additional surplus participation of up to 20% of the annual net profit.
The Goal: 5 years — at least 15 Taco Bell locations in Bavaria.
Target Issuance Volume: €7,500,000 for expansion in the hotel sector and further MMAAH openings.
Minimum Subscription: €1,000 nominal amount plus 5% surcharge (€1,050 total).
The following documents must be read before subscribing:
Please note the detailed risk factors in the Securities
Information Sheet (WIB) — in particular, market, distribution, and total loss risks.
The subscription process is carried out digitally via the Intokia platform.
Documents & Terms
Contact
Section 4 (5) WpPG Notices:
The authorization of the publication of the Securities Information Sheet (WIB) by BaFin is not to be understood as an endorsement of the offered financial investment. We recommend reading the complete WIB before making an investment decision.
"The information on this page is for general information purposes only and does not constitute investment, legal, or tax advice. It is not a substitute for individual consultation with a licensed financial advisor. Any investment decision should be made solely on the basis of the Securities Information Sheet (WIB)."
NOTICE OF RIGHT OF WITHDRAWAL
Right of Withdrawal
You have the right to withdraw from the contract within fourteen days without giving any reason.
The withdrawal period is fourteen days from the date the contract is concluded, i.e. from the date on which you received your subscription confirmation.
To exercise your right of withdrawal, you must notify the issuer
Lehmann Hotel und Gaststätten Holding GmbH
Sieghartstraße 1
85560 Ebersberg
E-Mail: [email protected]
by means of a clear statement (e.g. a letter sent by post or an email) of your decision to withdraw from this contract. You may use the model withdrawal form below, though this is not mandatory.
To meet the withdrawal deadline, it is sufficient that you dispatch your notice of withdrawal before the withdrawal period has expired.
Consequences of Withdrawal
If you withdraw from the contract, the issuer shall reimburse all payments received from you, without undue delay and in any event no later than fourteen days from the day on which the issuer is informed of your decision to withdraw. The same means of payment will be used for the reimbursement as you used for the original transaction, unless expressly agreed otherwise; in no event will you be charged any fees as a result of such reimbursement.
If you requested that services begin during the withdrawal period, you shall pay an amount proportionate to what has been provided until the point at which you informed the issuer of the exercise of your right of withdrawal, in comparison with the full coverage of the contract.
Download: Withdrawal Notice Form (PDF)