Weil advises TDR Capital on the sale of NKD Group to Mr Price

Munich/ Frank­furt a. M./ Durban (South Africa) — The Munich and Frank­furt offices of the inter­na­tio­nal law firm Weil, Gotshal & Manges LLP have advi­sed TDR Capi­tal LLP (TDR Capi­tal) on the sale of the NKD Group (NKD) to the listed South Afri­can company Mr Price Group Limi­ted (Mr Price). The purchase agree­ment for 100% of the shares in the NKD Group is subject to custo­mary regu­la­tory appr­ovals. The NKD Group was valued at an enter­prise value of EUR 500 million as part of the transaction.

TDR Capi­tal, a leading Euro­pean private equity firm based in London, acqui­red the NKD Group in 2019 and has since inves­ted heavily in the textile retail­er’s digi­tal infra­struc­ture and the use of data science. During this time, the company has sustain­ably expan­ded and conso­li­da­ted its posi­tion as a leading Euro­pean value textile discoun­ter. The expan­sion and opti­miza­tion of the store port­fo­lio has crea­ted the basis for sustainable, long-term growth. 

Mr Price, one of South Afri­ca’s largest listed retail groups based in Durban, is now acqui­ring NKD from TDR Capi­tal. The group opera­tes an omni-chan­­nel busi­ness in South Africa and other Afri­can count­ries with its 15 retail chains, inclu­ding online sales and 3,100 stores with a compre­hen­sive range of clot­hing and house­hold goods. Mr Price will take over a strong network of over 2100 NKD stores with over 10,000 employees in seven Euro­pean count­ries, parti­cu­larly in Germany, Austria and Italy. With a clear growth posi­tio­ning in the Euro­pean market, NKD offers a comple­men­tary plat­form within the market-leading retail group. 

Advi­sor TDR Capi­tal: WEIL

The Weil tran­sac­tion team was led by Munich part­ner Manuel-Peter Fringer, photo © WEIL (Private Equity) and compri­sed coun­sel Florian Wessel (Private Equity, Munich), asso­cia­tes Lucas Otto­witz, Sven Jeli­nek, Laurin Schmidt and Madleen Düdder (all Private Equity, Munich), Alex­an­der Roth­stein, Dennis Simon and Ozan Yildi­rim (all Private Equity, Frank­furt), Part­ner Tobias Geer­ling and Coun­sel Caro­lin Vetter­mann (both Tax, Munich), Coun­sel Konstan­tin Hoppe and Asso­ciate Daniel Mati­je­vic (both Liti­ga­tion, Munich), as well as Coun­sel Thomas Zimmer­mann (Finance, Munich) and Asso­cia­tes Hans-Chris­­tian Mick and Josef Matoussi (both Finance, Frankfurt).

About Weil

Weil, Gotshal & Manges is an inter­na­tio­nal law firm with more than 1,100 lawy­ers. Weil has offices in New York, Boston, Brussels, Dallas, Frank­furt, Hong Kong, Hous­ton, London, Los Ange­les, Miami, Munich, Paris, San Fran­cisco, Washing­ton, D.C. and Sili­con Valley. In Germany, the firm has two offices and around 50 lawyers/tax advi­sors in Frank­furt and Munich. The focus here is on provi­ding specia­li­zed advice to natio­nal and inter­na­tio­nal clients on cross-border private equity and M&A tran­sac­tions, high-profile liti­ga­tion manda­tes, complex restruc­tu­rings and finan­cings as well as tax structuring.