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Hotter Shoes owner Wourth Group has announced it has acquired German retailer Peter Hahn out of administration.
The investment into Peter Hahn, a traditional and internationally active multi-channel company for fashion and lifestyle for so-called “best-ager” customers, with headquarters in Winterbach, is a decisive step towards the long-term reorganisation and the termination of its self-administered insolvency proceedings.
Peter Hahn and Wourth group share complementarity of customer, routes to market and business operations and the partnership will create a mature market direct mail “powerhouse” in Western Europe and the UK.
Mike Lester, CEO Wourth Group, said: “We are convinced that the acquisition of the traditional and respected company Peter Hahn is a great addition to our holdings in the fashion sector and that our companies can benefit significantly from each other.
“Furthermore, Peter Hahn’s strong presence in the DACH region and the Netherlands also represents an ideal expansion of the Wourth Group’s international presence from a geographical point of view and enables us to acquire a large number of new customers.”
Peter Hahn’s business operations will continue independently at the Winterbach site after the Wourth Group’s investment, which currently employs around 500 people.
Managing director Daniela Angerer added: “Wourth Group is the ideal investor for Peter Hahn and is prepared to invest significantly in Peter Hahn’s business. In addition, the business activities of the Wourth Group overlap greatly with the business operations of Peter Hahn, particularly with regard to the customer structure and the high quality goods on offer.”
