Noerr has advised the Schwarz Group on the takeover of the Tönsmeier group of companies. The Schwarz Group, Europe’s largest retail company, is implementing the purchase through its affiliate GreenCycle, located in Neckarsulm, Germany.
GreenCycle is taking over the fifth largest player on the German waste disposal market. Tönsmeier is based in Porta Westfalica, Germany, and is also active on the Polish and Dutch markets. It achieved sales of around €500 million with a workforce of more than 3,000 last year. GreenCycle organises the collection and recycling of all recyclable materials for the Schwarz Group generated in the stores and logistics operations of Lidl and Kaufland – around two million tonnes of recyclable materials a year in Europe. The takeover, which was agreed with the owners, the Tönsmeier family, is still to be cleared by the competition authorities. The parties have agreed not to disclose the selling price.
Noerr supported the Schwarz Group and GreenCycle in the transaction with a German-Polish team. Munich-based Corporate partner Florian Becker was lead partner.
