Stuttgart – Circle Media Group, a leading European print and media company, has acquired the operations of German printer Körner Druck GmbH & Co. after reaching an agreement with the Heer Media Group. Körner Druck is the largest company in the Heer Media Group, which filed for insolvency under self-administration in August 2018. The transaction is currently awaiting approval from the competition authorities in Austria and Germany, with completion expected at the end of December 2018. Circle Media Group then intends to integrate Körner Druck into its Central European operations.
A CMS team headed by lead partners Dr Claus-Peter Fabian and Dr Alexandra Schluck-Amend advised Circle Media Group on all legal issues relating to the transaction and on insolvency law aspects of the acquisition. This is not the first time Circle Media Group has relied on the expertise of CMS. Most recently, an international team advised Circle Media Group on its acquisition of leading book printing group CPI in July 2018.
Amsterdam-based Circle Media Group has 5,000 employees and generates sales of around EUR 900 million, making it the largest independent European group for print and media services. The company has 26 printing sites across ten European countries plus an operation in the US. A total of 135 printing presses, of which 29 are digital, process more than a million tonnes of paper each year.
Established in 1885, Körner Druck is a leading web offset printer in the south-west of Germany (Sindelfingen, near Stuttgart) with sales of around EUR 70 million and more than 200 employees. The company produces retail catalogues and advertising brochures for German and international customers.
Dr Claus-Peter Fabian, Partner
Cornelius Bareiß, Associate, both Corporate/M&A
Dr Alexandra Schluck-Amend, Partner
Pia Seitter, Associate, both Restructuring & Insolvency
Dr Oliver Simon, Partner
Dr Michael Rein, Counsel
Dr Tilmann Restle, Senior Associate, all Employment, Labor & Pensions
Dr Sven Brockhoff, Counsel
Lukas Potstada, Associate, both Real Estate & Public