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Benpac Holding acquires Gallus Holding. The advisors

Benpac Holding has agreed to acquire Gallus Holding, the manufacturer of label printing and folding carton presses, from Heidelberger Druckmaschinen, for an approximate consideration of EUR 120m.The transaction will see benpac assume ownership of Gallus Holding in St. Gallen, Gallus Ferd. Rüesch AG in St. Gallen, Gallus Druckmaschinen GmbH in Langgöns, Heidelberg Web Carton Converting GmbH (WCC) in Weiden in der Oberpfalz, and Menschick Trockensysteme GmbH in Renningen – five sites with a total of some 430 employees in Germany and Switzerland. With an agreed purchase price of some 120 million euros, Heidelberg is expecting the deal to generate earnings in the mid two-digit million-euro range. The parameters will be finalized at the time of closing. The sale, which still needs to be approved by the relevant bodies and is subject to other condition precedents, is set to take effect before the end of 2020.
With this transaction Heidelberg is systematically pursuing the company’s realignment, which includes focusing on its core business of sheetfed printing. The aim of Heidelberg is to ensure the long-term financial stability of the company, and all the measures since the transformation started in March this year have been geared toward this objective.

DLA Piper has advised Heidelberger Druckmaschinen with a team internationally led by partner Benjamin Parameswaran. The core team also comprised counsel Philipp Clemens and senior associates Sophie von Mandelsloh and Friederike Rickers (all Corporate/M&A, Hamburg). Also involved were partners Henriette Norda (Employment), Verena Grentzenberg (IT/Data Protection), Sebastian Decker (Corporate/M&A, all Hamburg), Roland Maaß (Capital Markets), Mike Danielewsky (Restructuring), Marco Arteaga (Pensions),  Burkhard Führmeyer (IPT), Semin O (Antitrust, all Frankfurt), Dr Thilo von Bodungen (Commercial), Jan Geert Meents (IT, both Munich), Jan Pohle (IT/Data Protection) and Kerstin Schnabel (Corporate, both Cologne), counsels Oliver Otto (Restructuring), Dennis Hog (Real Estate), Daniel Zapf (White Collar Crime), Sergej Bräuer (Antitrust, all Frankfurt), Thorsten Ammann (IT/Data Protection, Cologne),  Susanne Weckbach (Commercial, Munich) and Annemarie Bloß (IPT, Hamburg), senior associates Mareike Schwedler, Martin Kaltwasser (both Restructuring), Juliane Hack (Capital Markets), Miray Kavruk (IPT, all Frankfurt), France Vehar (IT/Data Protection), Hubertus Neu (Corporate), Gregor Schroll (Competition, all Cologne), Liane Bednarz (Corporate/M&A, Hamburg), Michael Georg Ziegaus (Real Estate), Georg Haberkorn (Pensions), Olga Blaszczyk (Commercial), Fabian Hafenbrädl, Philippa Eggers (both IT) as well as associates Betina Fischer (Commercial, all Munich), Maximilian Seuß (Corporate/M&A), Katharina Pauls, David Schele (both IT/Data Protection, all Hamburg), Maximilian Dieler (Restructuring) and Alexander Rösch (Antitrust, both Frankfurt).

Swiss law firm Thouvenin Rechtsanwälte with partners Thomas Loher and Arlette Pfister as well as lawyer Marzel Wyden also advised on the transaction.

Heidelberger’s in house team was led by Sascha Donat (Head of M&A) and also comprised Rüdiger Jehn (M&A), Arthur Schneider (M&A) and Florian Zwoboda (Legal Counsel).

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