Heuking Kühn Lüer Wojtek Provides Counsel on Transaction in the Fashion Industry
Investor Group Berwin & Berwin and Jason Gerrard Acquiring Menswear Brand Bäumlera
British suit specialist Berwin & Berwin, headquartered in Leeds, and Bäumler's UK agent Jason Gerrard acquired the operative business of Ingolstadt-based menswear company Bäumler from administrator Dr. Martin Prager of PLUTA Rechtsanwalts GmbH.
Heuking Kühn Lüer Wojtek provided counsel to the purchasers on the fashion industry transaction which was closed last week. Professor Streit and his Munich-based team provided counsel to the investor group with respect to corporate issues and bankruptcy law. In terms of employment law, Bernd Weller from Heuking's Frankfurt office supported the group. The purchase price was not disclosed.
For Berwin & Berwin, the acquisition marks another important strategic step to establish itself in the European menswear industry. Bäumler is one of Europe's leading menswear brands with a long-standing history. The brand is considered leading in quality for premium men's suits and enjoys high name recognition.
"We are pleased that we were able to support Berwin & Berwin in this step with our reorganization expertise and that we were selected to provide counsel on the transaction across several fields of law," explains Heuking Kühn Lüer Wojtek's Streit.
The new company is to initially commence operations with a core team at offices in Schwaig near Munich. The transaction and the rescue plan by the purchasers secure more than 600 jobs overall.
For the sellers, Close Brothers GmbH provided counsel to administrator Dr. Martin Prager.
Dr. Fabian Bürk, also from Heuking Kühn Lüer Wojtek's Munich office, joined Professor Dr. Georg Streit in the legal counsel team. Bernd Weller from the Frankfurt office provided counsel on the transaction in terms of employment law.
Berwin & Berwin was established in 1885 and today is a fourth generation family-run business. With its manufacturing sites in Hungary and China providing a capacity of 16,000 suits per week and sales offices in London, Leeds and Budapest, the company is one of the leading suit makers on the European market.
Jason Gerrard has been Bäumler's UK agent for over 20 years and is considered one of the foremost experts in men's tailored garments in Europe.