Firm Advises EK-servicegroup eG on acquisition of Euretco
27 Apr 2015
Simmons & Simmons has advised EK-servicegroup eG on the acquisition of a 75% stake in Euretco from Euretco shareholders.
EK-servicegroup eG operates as a retail co-operative for more than 2,200 owner-managed specialty stores and department stores. Euretco is the Netherlands’ largest retail service organisation and works together with approximately 2,000 entrepreneurs and franchisees in the living, fashion, sports, DIY and media branches. Euretco’s core activities include retail services, franchise, wholesale and financial services to independent entrepreneurs.
This acquisition will strengthen EK's retail service operations in Europe. The combined company will have 4,100 independent retailers, which represent a €2.2bn turnover. The selling shareholders included Avedon Capital Partners and Euretco's management.
The Simmons & Simmons team was led by Rob Hendriks (Corporate M&A) and Marieke Driessen (Finance) and included Oscar Hoefnagels, Michiel Wurfbain, Martijn Stuart and David van Kessel (Corporate/M&A), Pieter Kortbeek, Dirk-Jan Gerrits and Niek Groenendijk (Finance) and Koen Platteau and Geneviève Borremans (EU & Competition).
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