P+P advises the management of Schustermann & Borenstein on sale to Permira Funds
P+P advised the management of the premium fashion retailer Schustermann & Borenstein on the sale by the owners, the private equity investor Ardian, to Permira Funds. The financial investor Permira thereby takes over the majority stake in Schustermann & Borenstein. The founding families Schustermann and Borenstein retained investments in the company.
Schustermann & Borenstein was founded in Munich in 1924. The company markets over 3,000 designer brands through its website BestSecret.com, as well as three stores in Munich and Vienna. Schustermann & Borenstein is the leading e-commerce platform for designer fashions in Germany, Austria and Switzerland; internationally, it has already expanded into Great Britain, Sweden and France.
The transaction is subject to the approval of the competent antitrust authorities.
P+P Pöllath + Partners advised the management of Schustermann & Borenstein on the transaction with the following Munich-based team:
- Dr. Benedikt Hohaus (partner, M&A/PE, lead)
- Dr. Tim Kaufhold (counsel, M&A/PE)
- Dr. Nico Fischer (counsel, tax)
