CMS advises CCC Group on the sale of Vögele Shoes to cm.shoes

Footwear manufacturers CCC Group announced the selling of its traditional Uznach-based company, Vögele Shoes to Hanover based Cm.shoes. CCC justifies the sale with its new strategy, which focuses on stationary trade in Central and Eastern Europe. No details were given regarding the terms of the transaction.

cm.shoes in cooperation with the Munich-based financial investor GA Europe, has taken over the popular Swiss shoe retailer from the Polish CCC Group. The changes in the ownership came as are the result of the restructuring plans. This decision eventuates directly from the GO.22 strategy announced by the organization at the beginning of 2020, which established the company’s focus on Central and Eastern Europe region. Due to the pandemic Vögele Shoes has had to close several stores: it now has 116. At the same time, however, the digital channel has grown and would now weigh 15% on sales volume. In order to streamline the current range, clearance sales will take place over the next few months.

CMS Switzerland acted as legal counsel to CCC Group on all aspects of this transaction. CMS team was led by Stefan Brunnschweiler (partner, corporate/m&a, pictured) and further included Mark Cagienard (partner, tax), Dr Dirk Spacek (partner, intellecutal property), Franziska Hammer (counsel, corporate/m&a) and Andrea Relly (associate, corporate/m&a)

From 3 June 2021, the company will be managed by Christian Müller (as chairman of the board of directors) and Max Bertschinger (as ceo and cfo), who has been with Vögele Shoes for 20 years and has also held the position of Chief Financial Officer since 2019.