McDermott Advises SIGNA on Takeover of SportScheck by Galeria Karstadt Kaufhof
Düsseldorf, December 17, 2019 – McDermott Will & Emery advises SIGNA Group on the acquisition of SportScheck and all its subsidiaries by Galeria Karstadt Kaufhof from Otto Group. The transaction is subject to the approval by the relevant antitrust authorities and the corporate bodies.
With the takeover, Galeria Karstadt Kaufhof will considerably strengthen its sports business as a growth area. By expanding its presence in German city centers and incorporating SportScheck e-Commerce it will become a leading omnichannel retailer for sports brands. 17 inner-city SportScheck stores attract around 10 million visitors each year; the company has also 2.4 million online customers and 85,000 participants in SportScheck events.
McDermott has advised SIGNA on various transactions since the complete acquisition of the Kaufhof stake from Hudson’s Bay Capital; most recently on the sale of a stake in ten Kaufhof department stores to Commerz Real.
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