POELLATH advises the management of NKD Group on sale to Mr Price

South African retail group Mr Price has acquired the NKD Group (“NKD”), a leading Europe-an value fashion discounter. The seller is London-based private equity firm TDR Capital, which acquired the company in 2019. NKD’s operating business will continue to be led by the existing management team. In the medium term, NKD plans to expand its store network to around 3,000 locations, with the long-term objective of achieving a Europe-wide presence of up to 4,000 stores. POELLATH provided legal and tax advice to the management of NKD within the sale regarding the management participation.

The NKD Group, headquartered in Bindlach near Bayreuth, is one of Europe’s leading value fashion discounters. With more than 2,200 stores in Germany, Austria, Italy, Slovenia, the Czech Republic, Croatia and Poland, the company offers a broad range of seasonal fashion, home textiles and home accessories. NKD employs approximately 10,000 people and also operates its own online shop.

Mr Price, headquartered in Durban, is one of the largest listed retail groups in South Africa. The group operates an omnichannel business across South Africa and other African countries through 15 retail chains and has approximately 3,100 stores as well as its own online distribu-tion platform.

POELLATH provided legal and tax advice to the management of NKD within the sale regard-ing the management participation with the following Munich-based team:

• Dr. Benedikt Hohaus (partner, management participation, M&A/PE)
• Silke Simmer (counsel, management participation, M&A/PE)