POELLATH advises KONEN clothing store on sale to Breuninger
POELLATH advised the traditional Munich fashion house KONEN Bekleidungshaus GmbH & Co. KG (“KONEN”) on the sale to E. Breuninger GmbH & Co. (“Breuninger”). The acquisition includes KONEN’s operational business with its approximately 700 employees in Munich and Luxembourg (Bram), as well as the real estate at the headquarters in Munich. The transaction is still subject to antitrust clearance, which is expected at the end of the month.
Munich-based, family-owned company KONEN is one of the major fashion houses in Germany and the market leader in Luxembourg for stylish branded clothing and accessories. The company has a long and traditional history. Its discerning customers have access to a retail area of 23,500 m² and a comprehensive range of services in Munich and Luxembourg.
In addition to its 11 locations in Germany to date, the Stuttgart-based fashion and lifestyle company Breuninger also operates an online store with over 1,200 stocked brands. The addition of the two new KONEN fashion stores means that Breuninger is now also represented in stationary retail locations outside Germany for the first time. In addition to its operational fashion business, the company also owns a large, actively managed real estate portfolio.
POELLATH provided comprehensive legal and tax advice to KONEN on the transaction with the following team:
- Dr. Frank Thiäner (partner, lead, M&A/private equity, Munich).
- Dr. Matthias Durst (partner, real estate law, Berlin)
- Sören Reckwardt (associated partner, real estate/tax law, Berlin)
- Daniel Wiedmann (associated partner, antitrust law, Frankfurt)
- Dr. Tim Junginger (counsel, M&A/private equity, Munich)
- Lion Sander (associate, real estate law, Berlin)
- Dr. Dominik Gerlicher (associate, M&A/private equity, Munich)
Luther Rechtsanwaltsgesellschaft mbH acted for Breuninger on the buyer side: Frank Gutsche (partner, lead)