April 07, 2020 Press

SMP advises Haniel on the acquisition of a majority stake in the mattress start-up Emma

Berlin - Schnittker Möllmann Partners (SMP) has advised Haniel Group on the acquisition of a 50.1% stake in Emma - The Sleep Company (Bettzeit GmbH). Both co-founders, Manuel Müller and Dennis Schmoltzi, will each hold a 24.95 percent stake in the company and will continue to drive Emma's international expansion as active co-CEOs.

The transaction was prepared since January and signed in a very short time due to the high strategic fit between Haniel and Emma. The transaction does not include a financing for Emma since the company is growing profitably. The parties have agreed not to disclose any details of the purchase agreement. The transaction is subject to approval by the competent antitrust authorities.

"We are very pleased to have advised Haniel on the acquisition of Emma, with which Haniel is continuing its transformation. The transaction once again showed how highly specialized law firms can cooperate successfully," says Benjamin Ullrich, partner at SMP.

Franz Haniel & Cie. GmbH is a leading German family equity company that has been headquartered in Duisburg-Ruhrort since it was founded in 1756. From then onwards the 100 per cent family-owned holding company has managed its diversified portfolio and has pursued a unique investment strategy as a value developer with a vigorous alignment to sustainability criteria and a clear performance orientation. Haniel's portfolio currently consists of six divisions that have independent responsibility for operational business, each with a market-leading position in their sector: BekaertDeslee, CWS, ELG, Optimar, ROVEMA and TAKKT. In addition, there is a financial investment in CECONOMY.

Emma - The Sleep Company is one of the fastest-growing providers of mattress and sleep products. The international SleepTech was founded in 2013 by Manuel Müller and Dennis Schmoltzi. In 2019, its revenues amounted to 150 million euros. Emma's portfolio includes the direct-to-consumer startup Emma Matratzen, which has already gained a role as a leading bed-in-a-box provider in many European countries, as well as the traditional brand Dunlopillo.

The advisory team at SMP included of Benjamin Ullrich (lead), Martin Schaper, Malte Bergmann, Adrian Haase, Ann-Kristin Lochmann, Leonie Neu, Christiane Schnitzler, and Daniela Machado-Jonetzki.

In addition to SMP, Haniel was advised by Thomas Becker and David Ziegelmayer, LEXANTIS (IP/IT); Tobias Pusch and Eckbert Müller, Pusch Wahlig Workplace Law; Christian Karbaum, Glade Michel Wirtz (Merger Control). The transaction was notarized by civil law notary Armin Hauschild (Hauschild Zimmermann).