Multiply Group Advances with Tendam Acquisition
Deal News | Jul 24, 2025 | Hogan Lovells
Hogan Lovells has played a significant role in advising Multiply Group on its acquisition of a majority stake in Tendam. In this complex cross-border transaction, Hogan Lovells engaged a specialized team led by M&A members Alex Dolmans, Enrique de Pablos, and Hugo Muñoz. Additional integral members included Ruchi Sharma from Multiply Group's legal team and other Hogan Lovells lawyers focusing on antitrust and foreign direct investment matters. The transaction also involved advisory roles from Greenhill for M&A, KPMG for financial and tax matters, and several law firms including Uría Menéndez, Latham & Watkins, and Hermosilla Abogados on behalf of the sellers. The completion of this acquisition in Bosnia and Herzegovina awaits formal clearance from the Bosnian competition authority.
Sectors
- Legal Services
- Retail
- Private Equity & Venture Capital
Geography
- Spain – Hogan Lovells and several other involved law firms have offices or bases here.
- Bosnia and Herzegovina – The acquisition specifically involves Tendam's business operations in this country.
- Luxembourg – Hogan Lovells' involvement spans multiple geographical offices, including Luxembourg.
- Mexico – Part of Hogan Lovells' cross-border team includes their Mexico office.
Industry
- Legal Services – Hogan Lovells and other law firms are involved in the advisory process, highlighting the legal industry's role.
- Retail – Tendam operates within the retail sector, the focus of the acquisition.
- Private Equity & Venture Capital – Multiply Group, a private equity firm, is the primary acquirer in this transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hogan Lovells | Legal Advisor | Company | A global law firm advising Multiply Group. |
| Multiply Group | Acquirer | Company | Private equity firm acquiring a majority stake in Tendam. |
| Tendam | Target | Company | Retail business being acquired. |
| Greenhill | M&A Advisor | Company | Advises on mergers and acquisitions. |
| KPMG | Financial and Tax Advisor | Company | Provided financial and tax advisory services for the deal. |
| Uría Menéndez | Legal Advisor to Sellers | Company | Law firm advising the sellers in the transaction. |
| Latham & Watkins | Legal Advisor to Sellers | Company | Law firm advising the sellers in the transaction. |
| Hermosilla Abogados | Legal Advisor to Company | Company | Law firm advising on behalf of Tendam. |