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LPA-CGR advises B&M on the acquisition of BABOU

Paris, October 30th 2018

LPA-CGR avocats advises B&M European Value Retail SA (“B&M”), a leading British retailer, for its acquisition of Paminvest SAS, the holding company of the “Babou” group, which operates a chain of 95 stores in France (selling discount home textiles and household products). This transaction is a major change in the discount retail sector in France.

The acquisition of Babou, for an enterprise value of €91.2 million, should enable B&M to develop in France its retail model, which has been flourishing since its initial public offering in 2014. To improve the performance of the Babou brand, B&M is planning to refine Babou’s offer and to adapt its model from sourcing to supply chain management.

Founded in 1978 and listed on the London Stock Exchange, the B&M group is constantly expanding and has currently a network of 591 discount stores under the B&M banner in the United Kingdom, as well as 269 low-cost Heron Food stores, and 88 Jawoll outlets in Germany.

LPA-CGR avocats advised B&M on all aspects of the transaction, with:

EY Société d’avocats advised on the tax aspects of the transaction.

The sellers (PIM/Kleboth family) were advised by French law firm Desfilis, with Philippe Rosenpick (partner), Nathalie Hollier (partner) and Laura Hominal in Corporate, as well as Sophie Fournier (partner) in Tax and Anastasia Fleury in Employment.