Alantra advised Sempione Retail on the sale of Charles Vögele’s German business

Jan 2017

Buy-side advisory

Alantra advised Sempione Retail AG (“Sempione Retail”), a company owned by a bidder consortium led by Italian fashion retail group OVS S.p.A. (“OVS”), launched a recommended all cash public tender offer to acquire Charles Vögele Holding AG (“Charles Vögele”). Charles Vögele is a leading Switzerland-based fashion retailer with net sales of CHF 803m in FY 2015 and approximately 800 stores in Switzerland, Germany, Austria, Benelux (disposal process currently ongoing), Hungary and Slovenia. Following the takeover of Charles Vögele by Sempione Retail, OVS and Charles Vögele would conclude a cooperation agreement based on which Charles Vögele shall be largely integrated into OVS.

After the successful settlement of the public tender offer, Sempione Retail would focus on Charles Vögele’s activities in Switzerland, Austria, Hungary as well as Slovenia and sell Charles Vögele’s business in Germany. For that purpose, an agreement with a leading European retail group has been signed under which most of the existing store network in Germany would be sold subject to the successful completion of the public tender offer. Charles Vögele’s German business consists of approximately 280 stores across the entire country. In FY 2015, Charles Vögele generated net sales of CHF 255m and EBITDA of CHF 13m in Germany.

Role

Alantra acted as sole financial advisor to Sempione Retail on the sale of Charles Vögele’s German business. Our role included the identification of potential buyers, coordination of the sale process and the due diligence activities, the transaction structuring and the negotiations with potential buyers.