Zurich - An International Insurance Broker VMD-Holding AG, a subsidiary of the German Ecclesia Group, and Kessler & Co AG have agreed on the acquisition of City Versicherungs-Kundendienst AG and City Beratungs-AG by Kessler.
With around 1,750 employees and a turnover of more than 235 million euros, the Ecclesia Group is the largest German insurance broker for companies and institutions. Following the takeover of City Broker by Kessler, the Ecclesia Group is now focusing on expanding into its core markets.
The family-owned firm Kessler employs a total of around 300 employees at its new locations in Switzerland and Liechtenstein. With 30 employees in Bern, Kessler is one of the largest providers in the region.
A team from CMS Zurich led by Stefan Brunnschweiler provided comprehensive legal advice to Ecclesia on the acquisition transaction.
- Stefan Brunnschweiler, Partner, Global Head of CMS Corporate/M&A Group
- Andrea Relly, Senior Associate, Corporate/M&A