AFINUM acquires a minority interest in the long-established Hamburg-based shoe retailer Görtz by a capital increase. AFINUM ensures the continuation of Görtz’ success story that has been going on for more than 100 years.
The AF Eigenkapitalfonds für deutschen Mittelstand GmbH & Co. KG, München, (AFINUM), advised by AFINUM Management GmbH, acquires an interest in Ludwig Görtz GmbH (Görtz) as a strategic partner. AFINUM acquires 40 percent of the Hamburg-based company. The objective is to establish a strong and long-standing partnership and to facilitate the growth and the expansion of the multichannel strategy of Görtz. The transaction will be completed, subject to the consent of the relevant authorities, by the end of May at the latest.
The company Görtz with headquarters in Hamburg, approx. 3,200 employees and about 170 branches in Germany and various e-commerce channels, is the qualitative market leader. With targeted investments in the expansion of the branch network and a stronger cross-linking of online and stationary sales, Görtz wants to continue further establishing this successful position.
Ludwig Görtz, co-partner and chairman of the board, comments on the transaction: “AFINUM is an experienced and strongly positioned partner, who does not only understand the established brand philosophy and the business model, but also appreciates it. We are looking forward to leading the company together with our employees into a successful future.”