UK-based B&M Group is entering the German discounter market by acquiring a majority stake in the JA Woll Group.
The Soltau-based firm mainly sells clearance and end of line stock under the JAWOLL and HAFU brands in the north-west of Germany.
The transaction is currently awaiting approval from the competition authorities; the purchase price was not disclosed.
A team from CMS Hasche Sigle led by Dr Oliver C Wolfgramm advised Stern Vertriebs GmbH and its shareholders on all legal aspects of selling the JA Woll Group to B&M.
The current owners and CEOs of JA Woll, Ingo Stern and Ralf Hartwich, retain a shareholding in the company and will continue to manage the business together with Nils Hansen. B&M's involvement is intended to speed up expansion of the branch network over the medium to long term.
B&M Retail Ltd, which is headquartered in Liverpool and owned by Clayton, Dubilier & Rice and the Arora family, is a discount retailer in the UK. Its more than 370 stores and 17,000 employees generate sales of over EUR1.4bn a year. The product range comprises both food and non-food items.
The JA Woll Group is a regional discount retailer in Germany with 49 branches of its own and five franchise stores.
