The health food store Bacher GmbH & Co. KG ("Reformhaus Bacher") is one of the leading health food store chains, specializing in the sale of food products as well as natural cosmetics and natural medicines. In 2021, Reformhaus Bacher generated sales of 43 million euros with around 580 employees and approximately 100 stores.
The company operates numerous stores in large parts of Germany as well as an online store and has made a name for itself by selling organic products in the areas of food, natural cosmetics, natural medicines and dietary supplements. The food products mainly include organic products, especially vegetarian and vegan products. Furthermore, non-food items are also sold.
The management of Reformhaus Bacher GmbH & Co. KG filed an application for the opening of insolvency proceedings in self-administration with the Düsseldorf Local Court on July 1, 2022. The Düsseldorf Local Court appointed Dr. Dirk Andres of the law firm Andres Partner as provisional administrator. The proceedings were opened by the court in self-administration on 01.09.2022.
The CVM Capital Value Management GmbH team around Managing Partner Kai Peppmeier was exclusively mandated by the management to conduct a structured M&A process. Despite a very tense market situation as a result of the Corona pandemic and the Ukraine war, CVM, in close cooperation with the parties to the proceedings, succeeded in successfully transferring approx. 550 jobs and 90 branches nationwide. During the crisis, 10 loss-making branches were closed.
Team CVM: Kai Peppmeier (Managing Partner), Oliver Lewin (Project Manager)
In the course of the transaction process, Reformhaus Bacher was sold to a consortium of investors from the health food industry via a share deal as part of an insolvency plan. The aim of the investors is to consolidate and expand Bacher's market position with a joint and strong positioning.
Reformhaus Bacher was legally accompanied and advised by Prof. Dr. Peter Neu and attorney Thorsten Kapitza from the law firm ATN d'Avoine Teubler Neu during the self-administration process.
D'Avoine Teubler Neu Rechtsanwälte ("ATN") is a commercial law firm based in several locations in North Rhine-Westphalia with over 100 employees and special expertise in restructuring and insolvency administration. According to Wirtschaftswoche, ATN is one of the top law firms in Germany in this field.
The law firm Andres Partner ("AndresPartner") is one of the leading restructuring and insolvency administration law firms in Germany with more than 40 years of experience around 90 employees at 20 offices in North Rhine-Westphalia, Lower Saxony, Saxony, Saxony-Anhalt, Baden-Württemberg and Bavaria.
Capital Value Management GmbH ("CVM") is a transaction advisory firm and an independent corporate finance consultancy for companies in special, transitional and restructuring situations. The focus is on supporting transactions of medium-sized companies from industry, trade and services with a sales volume between € 10 and 250 million. CVM designs, accompanies and coordinates the entire M&A process in close cooperation with the client's tax and legal advisors.