Porta Group Acquired by XXXLutz
Deal News | Jan 14, 2025 | Legal Community Germany
XXXLutz, one of the world's largest furniture retailers, is acquiring the Porta Group, which includes several furniture brands and approximately 140 locations in Germany, the Czech Republic, and Slovakia. The family-owned Porta Group, founded in 1965, is being sold to the Austrian-based XXXLutz Group, which will expand its portfolio that currently operates 370 stores in 14 countries. The transaction awaits antitrust approval, and both parties have agreed not to disclose the purchase price. Legal assistance for the transaction was provided by Hengeler Mueller, alongside PRK Partners in the Czech Republic and Slovakia.
Sectors
- Retail
- Legal Services
Geography
- Germany – Porta Group is based in Germany, with a substantial number of its stores located in the country.
- Czech Republic – The acquisition includes Porta Group's ASKO stores located in the Czech Republic.
- Slovakia – The acquisition also includes Porta Group's ASKO stores located in Slovakia.
Industry
- Retail – Both XXXLutz and Porta Group operate in the retail industry, specifically in the furniture retail sector which involves selling furnishings through physical stores and online channels.
- Legal Services – Hengeler Mueller and PRK Partners provided legal advisory services for the acquisition transaction, highlighting the involvement of legal services in M&A activities.
Financials
- Undisclosed – The purchase price for the acquisition of Porta Group by XXXLutz has not been disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| XXXLutz | Bidding Company | Company | One of the largest furniture retailers worldwide, acquiring Porta Group. |
| Porta Group | Target Company | Company | A second-generation family-run furnishing company, operating various furniture brands in Germany, the Czech Republic, and Slovakia. |
| Hengeler Mueller | Legal Advisor | Company | Provided legal advisory for XXXLutz in the acquisition process. |
| PRK Partners s.r.o. | Legal Advisor | Company | Collaborated with Hengeler Mueller to provide legal services in the Czech Republic and Slovakia. |