Allen & Overy advises HR Group on acquisition of surf4shoes
Frankfurt am Main — Allen & Overy LLP has advised Hamm Reno Group (HR Group), one of the largest distributors in the traditional shoe retail and systems business in Germany and Europe, on the acquisition of a majority stake in the eCommerce company surf4shoes GmbH. The transaction has already been successfully completed; the parties have agreed not to disclose the transaction value.
The HR Group expects the cooperation with surf4shoes to generate further significant growth in the online segment as well as synergy effects that will benefit both companies in the rapidly growing eCommerce market. In addition to the internal resources of the HR Group, which surf4shoes will be able to draw on in the future, there are synergies in the areas of logistics, IT and purchasing.
surf4shoes GmbH, based in Bitz, Baden-Württemberg, is a dynamically growing company that has specialized in the online retail of brand-name shoes in the mid-price segment since its founding in 2006. In the past fiscal year, the company generated sales of around 30 million euros in this segment.
The HR Group, with its 130 years of experience in shoe retailing, employs around 4,000 people and operates in 20 countries. The Group operates around 400 retail outlets worldwide and will be operating over 2,000 outlets in its system business by the end of the financial year. Sales generated at retail prices total more than 500 million euros. Following the sale of the company in 2016, the shareholders of HR Group include the financial investor and majority shareholder capiton AG, the Turkish strategic shareholder Flo (prior to the change of name Ziylan) with a minority stake, the CEO Peter M. Wolf and the management team.
Advisor to Hamm Reno Group: Allen & Overy
The Allen & Overy team consisted of partners Dr. Markus Käpplinger, photo (Corporate/Private Equity, Frankfurt), Dr. Walter Uebelhoer (Banking and Finance, Munich), Jürgen Schindler (Antitrust, Brussels), Dr. Heike Weber (Tax, Frankfurt), Dr. Jens Matthes (IP, Düsseldorf), Counsel Nikolai Sokolov (Corporate/Private Equity, Frankfurt), Senior Associates Boris Blunck and Dr. Sebastian Schulz (both Labor Law, Frankfurt), Miray Kavruk (IP, Düsseldorf) as well as associates Dr. Jörg Weber (Banking and Finance Law, Munich), Milosz Cywinski and Benjamin Geisel (both Antitrust Law, Brussels), Dr. Lisa Müller (Labor Law, Frankfurt) and Dr. Thomas Dieker (Tax Law, Frankfurt).
Allen & Overy is an international law firm with approximately 5,400 employees, including approximately 550 partners, in 44 offices worldwide.