PRESS RELEASE
Munich, 27 May 2020
US private equity company Argand Partners acquires a majority stake in the German Cherry Group, a manufacturer of computer accessories. The sellers are the Hamburg-based investment company Genui Partners and Greendich Enterprise, a trading company specializing in IT accessories. Both sellers retain a minority interest.
The management team around Mr. Rolf Unterberger and Mr. Bernd Wagner will continue to bear the responsibility for the company and will remain involved in the company as part of a management participation program.
The transaction is subject to customary closing conditions, including regulatory approvals.
honert provided comprehensive legal and tax advice to the Cherry management in connection with the transaction.
Consultants of Cherry management:
honert (Munich): Dr. Jochen Neumayer (corporate law, M&A, tax law); Prof. Dr. Thomas Grädler (corporate law, M&A, tax law)
Consultants of Argand Partners:
Hengeler Mueller (Frankfurt / Düsseldorf): Dr. Annika Clauss (lead), Dr. Peter Weyland amongst others
Consultants of Genui Partners:
PwC Legal (Nuremberg / Stuttgart): Gerhard Wacker amongst others