Deal Announcement 12/20: Retail & Consumer

PwC acted as exclusive financial advisor to Schuhhaus Dielmann GmbH & Co. KG on the sale of major assets to MyShoes SE

The Deal

The PwC M&A team is pleased to announce the successful sale of major assets of Schuhhaus Dielmann GmbH & Co. KG, Darmstadt (“Dielmann”). As leading shoe retailer in the Rhine-Main-Neckar region, Dielmann initiated protective shield proceedings in June 2020 due to a COVID-19 related sales decrease. Attorney at law Dr. Georg Bernsau was appointed as chief representative of Dielmann and initiated a structured M&A process which has been led by PwC M&A. In the course of the M&A process a portfolio of eight specialist markets and major assets of Dielmann were acquired by MyShoes SE, Essen (“MyShoes”).

The asset purchase agreement was signed in October and the transaction was closed on 1st of December 2020.

Dielmann drew strong interest from various strategic and financial investors in the course of the M&A process. MyShoes SE succeeded in the process with the best offer. The 160 employees from the acquired specialist markets will be taken over by MyShoes SE. The remaining retail stores of Dielmann will be sold in separate transactions.

Schuhhaus Dielmann GmbH & Co. KG

Schuhhaus Dielmann GmbH & Co. KG headquarted in Darmstadt, Germany is the leading German shoe retailer in the Rhine-Main-Neckar region with approx. 620 employees. Dielmann sells women's, men's and children's shoes from renowned shoe manufacturers through its 40 own retail stores.

MyShoes SE

MyShoes SE is a fully owned subsidiary of Deichmann SE, which is a 100% private owned company, with headquarters in Essen (Germany). Deichmann is the largest footwear retailer in Europe. The products are sold to more than 30 countries. The group employs more than 43,000 people and generates annual revenues of more than €6.5bn.


The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 280,000 people in 157 countries. Our global network comprises nearly 1,600 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing. The PwC Distressed M&A team is market leading in Germany and realized more than 70 transactions out of crisis and insolvency situations in recent years.

The transaction was led by Timo Klees (Partner) and Josef Spanidis (Senior Manager). The M&A team also included Felix Lenk (Manager), Matthias Friedl (Associate) and Maximilian Lazzeri (Associate).

Deal Announcement 12/20: Retail & Consumer

Contact us

Dr. Alexander von Friesen

Dr. Alexander von Friesen

Partner, Corporate Finance | M&A Healthcare & Consumer, PwC Germany

Tel: +49 151 11714398

Timo Klees

Timo Klees

Partner, Head of Corporate Finance | M&A Distressed & Special Situations, PwC Germany

Tel: +49 151 10060451

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