SKYE PARTNERS, Pusch Wahlig and BCA-Law advised Benner Holding on the deal. CMS advised GEST Holding.
Benner Holding GmbH (“Benner Holding“) announced the indirect acquisition of the majority of shares in Thonet GmbH, based in Frankenberg (Eder) (“Thonet“), from the Munich-based financial sponsor Afinum. The parties have agreed not to disclose the details of the transaction.
Benner Holding is a Wiesbaden-based family office that is active in various areas, in particular in e-commerce, shoe retailing, the agricultural and energy sectors as well as in real estate. Originally founded as a company for colonial goods and footwear in 1882, the former shoe house has evolved into a holding company with various growing business areas. Benner Holding is particularly active in the development and operation of online platforms for shoes, clothing and accessories (including Schuhe24 and Sportmarken24).
Thonet has been producing and selling furniture and home accessories for the living and project area for two centuries and is particularly known for its design icons made of bentwood and tubular steel (including cantilever chairs). Founded in 1819 by Michael Thonet, Thonet has repeatedly collaborated with various designers/architects, including Bauhaus-style designs by Mart Stam, Marcel Breuer and Ludwig Mies van der Rohe. Thonet furniture is represented in the most important design collections in the world and can be found in the Museum of Modern Art in New York and the Pinakothek der Moderne in Munich, among others.
The Munich-based financial investor Afinum had joined Thonet as a majority shareholder through an investment company in 2013 and had increased its stake again in 2018. Members of the Thonet family currently jointly hold a minority stake
The SKYE PARTNERS team included Christoph Breithaupt (Picture), Julia Rosigkeit (gemeinsam Federführung), Lisa Schulte, Lukas Schobert (alle M&A/Private Equity), with Dr. Marius Fritzsche, (Pusch Wahlig Workplace Law, Frankfurt – Arbeitsrecht), Bettina Carr-Allinson (BCA-Law, – IP/IT Law), Dr. Christoph Herrmann (Antitrust).
The CMS team included Dr Martin Kuhn, Lead Partner, Munich, Lukas Stegemann, Senior Associate, Munich, both Corporate/M&A, Stefan Lüft, Partner, Munich, Intellectual Property and Jörg Schrade, Partner, Munich, Tax.
Involved fees earner: Bettina Carr-Allinson – BCA Law Attorneys-at-Law; Martin Kuhn – CMS Hasche Sigle; Stefan Lüft – CMS Hasche Sigle; Jörg Schrade – CMS Hasche Sigle; Lukas Stegemann – CMS Hasche Sigle; Christoph Herrmann – Herrman Legal; Marius Fritzsche – Pusch Wahlig Workplace Law; Christoph Breithaupt – Skye Partners; Julia Rosigkeit – Skye Partners; Lisa Schulte – Skye Partners;