CMS advises TAKKT on the acquisition of XXL Horeca
CMS has advised newport.takkt GmbH, part of the TAKKT group, on the acquisition of all shares in the capital of XXL Horeca.
XXL Horeca, headquartered in Wormerveer (North Holland) with some 20 employees, is a Dutch online retailer of catering equipment, trading in the Benelux region, France, Germany and Austria. Stuttgart-based TAKKT group has worldwide activities and is listed on the Stuttgart and Frankfurt stock exchange. With its approximately 2,500 employees, it focuses on B2B direct-marketing for business equipment.
Strengthen competitive position
The transaction was closed beginning of this month, for a consideration of 19,5 million euro, which may increase due to bonus payments (amount not disclosed). XXL Horeca will form part of the so-called Newport group, TAKKT's European e-commerce division. TAKKT board member Dr Heiko Hegwein commented: "XXL Horeca will benefit from the Newport network, and will be able to strengthen its competitive position."
The CMS team assisting TAKKT on legal matters was led by Christian Delgado, and further comprised (among others) Isabelle van den Hoogen, Bob van Zijl, Elianne Lassooij and Elisabeth von Meijenfeldt, with German-law input from Dr. Tobias Schneider and Christina Lung (CMS Stuttgart). Bart Wolters, Mengfei Kainz and Pieter van Muijen (HVG Law) were legal advisors to the selling shareholders.