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Seitz advises Metro Group during the acquisition of Hitmeister

Hitmeister offers around ten million products online for sale and purchase, both new and second hand.

Hitmeister offers around ten million products online for sale and purchase, both new and second hand. Similar to the American Amazon Group, many products are also delivered by the companies themselves at Hitmeister, along with around 5,000 marketplace participants who offer products via the Hitmeister marketplace.

According to Hitmeister, it currently has around 2.5 million customers and generated a turnover of EUR 43 million  last year. The investors include, among others, Tiger Global and the European Founders Fund. The business is to be continued with the existing traders and suppliers and, according to Real, even the Cologne location is to remain in place.

Real, which like Media-Saturn belongs to the Dusseldorf Metro Group, wants to continue by purchasing its digitisation efforts. The group is currently undertaking its own separation: Metro wants to create two businesses listed separately on the stock market. The current Metro AG would then primarily consist of Media-Saturn and the new business entity would bring the Cash & Carry markets and Real supermarkets together under one roof. With over 200,000 and a turnover of around EUR 59 billion , Metro is currently the biggest German retail company and is also one of the major large companies internationally.

Counsel Real

Seitz (Cologne): Dr. Daniel Grewe (taking the lead), Dr. Wolfgang Schüler, Dr. Patrick Nordhues (all M&A), Dr. Isabel Rauch (company law), Dr. Joachim Trebeck (labour law), Christian Schmitt (IP); Associates: Christoph Martens (labour law), Dr. Charlotte Kreuzberg (M&A)

Background 

Seitzinitially acted on behalf of Metro for this transaction and obtained the mandate through a pitch. Thus, the Cologne law firm, which already had a place on the list of consultants for Bayer for medium-sized deals, secured a mandate for a further German Group and advises comprehensively on the part of the seller in the current transaction.
Source: www.juve.de

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