CERHA HEMPEL Rechtsanwälte GmbH has advised XXXLutz Group (headquartered in Wels, Austria) in connection with a share acquisition establishing a 50/50 partnership in Black Red White Group (a large furniture retailer and producer based in Poland), thereby expanding XXXLutz Group’s footprint, creating synergies and a strong association for international growth of XXXLutz.
BRW Group runs, among others, 93 own stores (79 in Poland) and a network of approx. 370 distribution partners in Poland, and employs a total of approx. 7,900 employees. BRW Group exports its own products to more than 50 countries worldwide.
XXXLutz Group runs more than 370 furniture stores in 13 European countries (Austria, Germany, Czech Republic, Hungary, Slovenia, Slovakia, Croatia, Romania, Bulgaria, Switzerland, Sweden, Serbia and Poland) comprising more than 25,700 employees, complemented by 24 online shops for XXXLutz, Möbelix and Mömax. With an annual turnover of EUR 5.34 billion, XXXLutz Group is one of the three largest furniture retailers worldwide.
The acquisition of the shares in BRW Group is subject to the approval by the competent competition authorities.
The CERHA HEMPEL Team, consisting of Dr. Clemens Hasenauer (Lead Partner, Corporate/M&A), Johannes Prinz (Partner, Corporate/M&A and Tax), Lorenz Pracht (Partner, Corporate/M&A), Dr. Harald Stingl (Partner, Corporate/M&A), Julia Digruber (Associate, Corporate/M&A) and Michael Ebner (Associate, Corporate/M&A), provided comprehensive legal advice to XXXLutz regarding the complex and multi-faceted topics of the transaction as well as the future strategic partnership with the selling shareholders.
Anna Dąbrowska, Bartosz Kuraś and Katarzyna Miszkiel, all Wardynski & Partners, acted as further legal advisors (Polish law) for XXXLutz Group.