August.05.2015
Düsseldorf/Milan/Paris: German kitchen manufacturer nobilia has expanded its minority shareholding in France’s FBD-Group by acquiring all shares previously held by Italy’s Snaidero. With this acquisition, nobilia becomes the majority shareholder in FBD-Group. The completion of the transaction is subject to the condition precedent of the approval of the German Federal Cartel Office.
With approximately 2,650 employees and an annual production of 600,000 kitchens, nobilia is Europe's largest kitchen manufacturer and the market leader in Germany. The company produces more than 2,700 kitchens per day at its two East Westphalian plants in Verl, Germany. The company generated revenues of €946.2 million in 2014.
FBD-Group is Europe's leading Franchise-Distribution-Network specialized in the distribution of quality kitchens. The company maintains about 370 affiliates in Europe as well as in Africa. The franchisees generate an overall external turnover of more than €500 million.
A longtime client of Orrick, nobilia was advised by Orrick's Dr. Oliver Duys in its previous acquisition of a 30% minority shareholding in FBD-Group in 2009. In this cross-border transaction, nobilia was advised by an Orrick team comprising lawyers across the firm’s offices in Düsseldorf, Milan and Paris.
The Orrick team in Düsseldorf was led by Dr. Oliver Duys (Partner, M&A/Private Equity) and also comprised Dr. Till Steinvorth (Partner, Antitrust & Competition), Dr. Stefan Schultes-Schnitzlein (Partner, Tax), Dr. Nikita Tkatchenko and Julia Overhage (Associates, M&A/Private Equity). The Orrick team in Milan included Daniela Andreatta (Special Counsel, Corporate) and Federico Perego (Associate, Corporate). The Orrick team in Paris included George T. Rigo (Partner, Corporate) and Olivier Vuillod (Associate, M&A/Private Equity).
Snaidero was advised by the Italian law firm Macchi di Cellere Gangemi (Claudia Bruscaglioni and Silvia Lazzeretti, Milan).