Frankfurt – Dechert LLP is advising the Tönsmeier Family on the sale of all of its shares in Tönsmeier Group to GreenCycle, a Schwarz Group company. Tönsmeier Group is Germany’s fifth-largest waste disposal company, based in Porta Westfalica. The transaction is still subject to approval by antitrust authorities. The parties have agreed not to disclose the financial conditions.
The sale was preceded by a structured process initiated by the Tönsmeier family in early 2018. The process involved discussions with a number of strategic interested parties and financial investors. The market’s interest in Tönsmeier exceeded expectations.
GreenCycle provides waste disposal and recycling services for the companies of the Schwarz Group. GreenCycle’s responsibilities include collecting and recycling materials generated in the stores and logistics operations of the Lidl and Kaufland retail divisions.
Tönsmeier in 2017 had more than 3,000 employees, approximately 70 locations and turnover of about EUR 500 million, which was a 13% increase from the previous year, and is active in Germany, the Netherlands and Poland.
The German Dechert team was led by Sven Schulte-Hillen and Dr. Markus J. Friedl, and included Frankfurt-based antitrust partner Clemens York, national tax partner Klaus D. Hahne* and corporate associates Gottfried Graf von Bassewitz and Thirith von Döhren.
*Mr. Hahne is not admitted to practice law.
Please read the Tönsmeier press release here »
Read the press release in German here »
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