Austria: Schoenherr advises Valora on acquisition of "press & more"

Schmelzer-Bettenhausen operates under the name "press & more" at 12 locations in Austria in train stations and at the Vienna airport, selling press and travel literature. Their range of products includes newspapers, magazines, paperbacks, as well as fiction and non-fiction bestsellers. Food and non-food items are offered in addition. Previously, the majority was held by the largest Austrian press distributor, Morawa. In 2010, Schmelzer-Bettenhausen achieved a turnover of more than EUR 12 million and had around 70 employees.

Valora Services Austria GmbH had already been a minority shareholder in Schmelzer. Valora now fully takes over Schmelzer-Bettenhausen. Completion of the transaction is subject to the fulfillment of various conditions, particularly merger control clearance.

The acquisition of Schmelzer-Bettenhausen is an important step for the Valora Group to improve its market activity in German-speaking Europe. Of the 12 acquired locations, eight are located in the largest train stations in Austria, while two are located at the Vienna airport.

The Schoenherr team consisted of partners Florian Kusznier (Corporate/M&A) and Hanno Wollmann (Competition), attorneys at law Wendelin Ettmayer and Wolfgang Tichy, and associates Christian Pindeus, Constantin Benes and Lukas Humaj. The sellers were represented by attorney at law Dr. Christian Kuhn.