Legal Advisors to RAJA DLPA Firm SCHACKOW Firm Legal Advsior to RETIF Group Due Diligence for RAJA RAJA’s Acquisition of the RETIF Group DEAL BRIEF COMMENTS: VANDENBULKE ADVISORS TRANSACTION REPORTS 69 RAJA Group, a European leader in the multichannel distribution of packaging, supplies, and equipment for businesses, has successfully acquired from Verdoso 100% of the capital of the RETIF Group, a French distributor specialising in shopfitting equipment and supplies for retail stores. This acquisition strengthens RAJA’s leading position in the European market and will enable the RAJA Group to expand its customer base of retailers in seven European countries. It also brings RAJA a complementary network of brickand-mortar stores offering proximity services to customers. On July 30, 2024, RAJA Group and Verdoso entered into exclusive negotiations with the aim of acquiring RETIF. Following favorable feedback from employee representative bodies and receiving approval from the Competition Authority on August 14, 2024, the transaction was finalised. RETIF, headquartered in Nice, generated a turnover of €121 million in 2023 and employs 460 people. The company operates 88 retail locations across Europe, with 66 stores in France, 15 in Spain, 5 in Belgium, and 1 each in the Netherlands and Luxembourg, serving more than 300,000 customers. RETIF also manages a distribution center in Drôme (Valence) and operates multiple e-commerce websites. RAJA Group is an independent French family business which was founded in 1954 and continues to expand its operations across 19 European countries, serving more than 2 million customers. Their workforce is comprised of 4,500 employees and they have a turnover of €1.7billion. In this acquisition, the Luxembourg law firm Vandenbulke provided key legal advisory services to the acquirer, RAJA Group, throughout the transaction, focusing on Luxembourg-specific aspects, particularly by handling the due diligence related to Luxembourg law and ensuring compliance with local regulations. Cornet Vincent Ségurel acted as the lead counsel to the acquirer, managing the overall legal, social, economic, and compliance due diligence, coordinating with counsels in various jurisdictions, as well as overseeing the drafting and negotiation of acquisition documents. “Advising RAJA Group on this strategic acquisition allowed us to deliver tailored, high-impact legal support on Luxembourg M&A and corporate matters. Led by Selim Souissi (Partner), with support from Jeremy Da Silva Reis (Senior Associate) and Dalva Girard Teixeira (Associate), our team ensured seamless handling of all Luxembourg-specific issues, aiding RAJA’s expansion. Our experience in cross-border transactions and focus on our client’s commercial goals helped ensure a smooth and successful outcome aligned with RAJA’s long-term growth strategy. This reflects our commitment to offering the same level of dedicated, results-driven service to all our clients in complex, multi-jurisdictional transactions.” www.vdblaw.com
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