P+P advises CEWE on acquisition of WhiteWall
CEWE Stiftung & Co. KGaA ("CEWE") acquired the division WhiteWall and all shares in WhiteWall Media GmbH (collectively "WhiteWall") in a carve-out transaction (combination of an asset deal and a share deal) from Avenso GmbH ("Avenso"). The acquisition concerns, in particular, the brand, the business operations, the production plan in Frechen, as well as the four WhiteWall stores in Hamburg, Düsseldorf, Berlin and Munich, but not the LUMAS division with its galleries.
At the time the transaction is concluded (expected at beginning of June), the purchase price calculation is based on a company value of EUR 30 million. The transaction is still subject to approval by antitrust authorities.
WhiteWall is a premium provider that supplies photographers, museums and galleries all over the world with large-format photographs. WhiteWall customers include more than 20,000 professional photographers. The company operates in Germany, many European countries and also in the U.S.
CEWE is headquartered in Oldenburg and listed on the SDAX; it is one of the leading European online printing and photo service providers. The company has approximately 3,900 employees and delivers to over 20,000 commercial partners in 26 countries.
P+P Pöllath + Partners advised CEWE on all matters across all locations with the following team:
- Otto Haberstock (partner, lead, M&A, Munich)
- Eva Nase (partner, corporate and capital markets, Munich)
- Nico Fischer (partner, tax law, Munich)
- Timo Winkelmann (partner, real estate law, Berlin)
- Daniel Wiedmann (associated partner, antitrust law, Frankfurt)
- Laura Greimel (senior associate, M&A, Munich)
- Annika Anders (associate, M&A, Munich)
- Xin Zhang (associate, antitrust law, Frankfurt)
- Pascal Köstner (senior associate, M&A, Munich)
- Sebastian Seier (associate, corporate and capital markets, Munich)
- Lisa Viehweber (associate, real estate law, Berlin)
- Jochen Schöfthaler (associate, real estate law, Berlin)
P+P Pöllath + Partners regularly advises CEWE, most recently on the acquisition of the online printing company LASERLINE and the online photo platform Cheerz.