Mayer Brown advised But’s management with regard to its acquisition by a consortium led by Clayton, Dubilier & Rice and WM Holding
4 July 2016
Paris - Mayer Brown advised BUT’s management, the second largest homeware group in France, with regard to the group’s acquisition by a consortium led by Clayton, Dubilier & Rice and WM Holding related to its Austrian competitor, Lutz (among top 5 furniture retailers in Europe).
With BUT, Lutz holds a place in France’s top 3, one of the leading market in Europe, where it didn’t manage to establish itself so far. Back in 2012, Lutz had almost proceeded to BUT’s acquisition.
With a total of 303 stores and a turnover of € 1.3 billion in 2015 (with a 5.5% growth over a year), BUT took over 13.1 % of furniture sales in France ranking behind Ikea (18.3 %) and Conforama (15.7 %).
The Mayer Brown team advising BUT’s management included Alexandre Dejardin, Guillaume Kuperfils, Laurent Borey, Christopher Lalloz (partners), Lou-Andréa Bouet and Paul de France (associates).