Hanover – Luther Rechtsanwaltsgesellschaft mbH has provided transactional advice to the partners of the bakery Bäckerei Westbomke GmbH & Co. KG on the sale of their interests to Krome GmbH and thus secured the succession of the family business.
The partners of Westbomke GmbH & Co. KG sold their interests as part of a share deal to Krome GmbH, a company which has a long tradition in the bakery business. The transaction also included concluding further agreements with Krome GmbH to ensure the structured succession of the renowned chain of bakeries.
The focus of the merger was to secure the long-term future of the bakery with its extensive network of branches, as well as to safeguard the jobs of the employees, as the succession of the business will not be continued within the family. The partners were advised by a team from Luther Rechtsanwaltsgesellschaft, led by Dr Andreas Blunk, that specialise in advising family businesses and succession issues. The deal was closed on 31 August 2020.
Bäckerei Westbomke is a family-run business that was founded in 1964 in Bruchhausen (Germany) and is now based in Boffzen in the district of Holzminden (Germany). It has approximately 150 employees and 18 sales outlets using different forms of distribution.
On behalf of Bäckerei Westbomke GmbH & Co. KG: