EUROTOPS (Germany) - Dec 2007

COREST AG, a private equity company specialising in special situations, has wholly acquired EUROTOPS from the Tchibo Group for an undisclosed amount. Tchibo Group had acquired EUROTOPS in 2004, but the company did not meet revenue expectations, and EUROTOPS was put up for a limited auction in 2007. The deal was closed end of September. The financial investor is looking to restructure the company and has already hired new marketing and purchases team as well as appointed a new CEO.

Debt

The transaction included no debt.

Company

Founded in 1993, EUROTOPS is a mail order and catalogue retailer based in Langenfeld. The company was acquired in 2004 by the Tchibo Group and reported sales in 2006 of more than €50m, while employing approximately 60 staff.

People

Dr Dietmar Klein and Dr Andreas Kucher handled the transaction for COREST AG.

Sourced from: Deutsche unquote" 94 (Jan 2008)

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• Topics
• DACH
• Buyouts
• Consumer
• Germany