Hogan Lovells advises Fressnapf on the purchase of the Italian Arcaplanet Group from Permira
Led by Dusseldorf partner Franz-Josef Schöne and London partner Ben Higson, international law firm Hogan Lovells advised Fressnapf Beteiligungs GmbH on the purchase of the Italian Arcaplanet Group from Permira.
The Fressnapf Group is the European market leader for pet supplies. Since the opening of the first "Freßnapf" specialty store in 1990 in Erkelenz (North-Rhine Westphalia/Germany) founder Torsten Toeller has remained the company's owner. The company headquarters are in Krefeld, Germany, with further offices in Düsseldorf, Venlo (The Netherlands), and the ten national subsidiaries. Today, around 1,800 Fressnapf and Maxi Zoo stores in eleven countries and more than 15,000 employees from over 52 nations belong to the Fressnapf Group. The Group achieves an annual turnover of more than EUR 3.1 billion.
The Fressnapf Beteiligungs GmbH, a holding company belonging to the Fressnapf Group, together with international private equity firm Cinven, has acquired Arcaplanet Group, a pet supplies retail chain in Italy, from funds advised by Permira and Winch Capital Partners. As part of the transaction, Fressnapf Beteiligungs GmbH contributed its subsidiary Maxi Zoo Italia to the strategic partnership with Cinven. With around 144 Maxi Zoo locations in Italy, Maxi Zoo Italia is the third largest specialist retail chain of pet supplies on the Italian market. The merger of the Arcaplanet Group and Maxi Zoo Italia, which will in future operate jointly in Italy as the Arcaplanet Group, will create one of the leading platforms for pet supplies in Italy, offering food and non-food products in c. 500 shops across Italy and online.
The transaction documents were signed on 24 June 2021. Following the approval by the Italian anti-trust authorities at the end of February this year, the transaction was completed at the beginning of March 2022. Alongside with the management Fressnapf Group is now a minority shareholder in the new Arcaplanet Group in Italy, having joint control with the majority shareholder Cinven.
All parties involved have agreed not to disclose further details.
Hogan Lovells provided comprehensive advice to Fressnapf Group on all transaction and financing law issues in this complex transaction. The Düsseldorf law firm Hermanns Wagner Brück, which specialises in antitrust issues, gave in-depth advice on the difficult antitrust implications of the transaction. The advice was provided in close coordination with Fressnapf's legal department as well as with the law firm SSP-Law, which advises Fressnapf on ongoing corporate law matters. The Fressnapf Group was comprehensively advised on the tax issues by PWC.
Hogan Lovells Team for Fressnapf Beteiligungs GmbH
Hogan Lovells (Dusseldorf, London, Milan): Franz-Josef Schöne (Dusseldorf) und Ben Higson (London) (both lead partners, both Corporate/M&A), Leanne Moezi (Private Equity, London), Luca Picone (Corporate/M&A, Milan), Elliot Weston (Tax, London), Sylvain Dhennin (Finance, London), Simon Grimshaw (Corporate/M&A, London/Birmingham), Martina di Nicola (Corporate/M&A, Milan). Associates: David Rizzuto Corporate/M&A, London), Mounir Haddad (Corporate/M&A, London), Helen McGowan (Commercial, London), Bonella Ramsay (Commercial, London), Viet Nguyen (Corporate/M&A, Tokyo), Chloe Honeyborne (Corporate/M&A, London), Gilbert Hwani (Corporate/M&A, London), Rebecca Banner (Corporate/M&A, London), Frederico Scio (Corporate/M&A, Milan), Adela Komorowska (Tax, London), Axel Delaud (Finance, London), Merlin Laufenburg (Corporate/M&A, Dusseldorf).