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Allen & Overy advises HR Group on acquisition of majority stake in surf4shoes

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Uebelhoer Walter
Dr Walter Uebelhoer



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Kaepplinger Markus
Dr Markus Käpplinger


Frankfurt am Main

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16 May 2018

Allen & Overy LLP has advised Hamm Reno Group (HR Group), one of the largest traditional shoe retailers and wholesalers in Germany and Europe, on the acquisition of a majority stake in e-commerce company surf4shoes GmbH. The transaction was already successfully completed; the parties have agreed not to disclose the transaction value. 

HR Group expects the collaboration with surf4shoes to generate additional substantial growth in the online sector as well as synergies benefiting both companies in the rapidly growing e-commerce market.  In addition to the internal resources of HR Group, to which surf4shoes will have access in future, there will be synergies in the fields of logistics, IT and purchasing.

surf4shoes GmbH, having its registered office in Bitz, Baden-Württemberg, is a dynamically growing company which was established in 2006 and specialises in online retailing of brand shoes in the medium price segment.  In the last financial year, the company generated a turnover of about EUR 30 million in this segment. 

HR Group with its 130-year experience in shoe retail has about 4,000 employees and is active in 20 countries.  The group operates around 400 retail branches worldwide and will operate about 2,000 retail outlets under its wholesale business at the end of the financial year.  The turnover generated at retail prices amounts to a total of more than EUR 500 million.  Following the sale of the company in 2016, the shareholders of the HR Group include financial investor and majority shareholder capiton AG and, as minority shareholders, Turkish strategic shareholder Flo (formerly Ziylan), CEO Peter M. Wolf and the management team. 

The Allen & Overy team comprised partners Dr. Markus Käpplinger (Corporate/Private Equity, Frankfurt), Dr. Walter Uebelhoer (Banking & Finance, Munich), Jürgen Schindler (Antitrust, Brussels), Dr. Heike Weber (Tax, Frankfurt), Dr. Jens Matthes (IP, Düsseldorf), counsel Nikolai Sokolov (Corporate/Private Equity, Frankfurt), senior associates Boris Blunck and Dr. Sebastian Schulz (both Employment & Benefits, Frankfurt), Miray Kavruk (IP, Düsseldorf) as well as associates Dr. Jörg Weber (Banking & Finance, Munich), Milosz Cywinski and Benjamin Geisel (both Antitrust, Brussels), Dr. Lisa Müller (Employment & Benefits, Frankfurt) and Dr. Thomas Dieker (Tax, Frankfurt).