We have a great pleasure to inform you about the next extraordinary transaction in Grant Thornton’s advisory portfolio, within which on March 31st, 2019 the transfer of the organised part of enterprise of Tarmax Sp. z o.o. Sp.k. – until now the sole distributor of clothing, footwear and accessories of the New Balance brand in Poland – to New Balance Poland Sp. z o.o., the company belonging to the American New Balance capital group, set up for the purposes of the transaction. As part of the transaction, Grant Thornton ensured New Balance capital group a comprehensive transaction advisory acting as a legal, tax and financial advisor of the New Balance capital group.
Attorney-at-law, head of mergers and acquisitions legal advisory of Grant Thornton Legal, managing the project.
After several months of negotiations of the transaction documentation and intensive preparations of the parties aiming at closing of the planned transaction, including, in particular, negotiations of terms of moving retail space in 50 shopping centers today, without a shadow of a doubt, we can talk about the success. We are convinced that this transaction, by integrating production and sales processes within one capital group, will contribute to increasing the effectiveness of the business activity carried out in Poland by the New Balance capital group as well as the attractiveness of the New Balance brand products. We are proud to leave our advisory trail in the 113-year New Balance history.
Execution of the transaction is part of the strategic objectives of the development of the New Balance capital group. As a result of the performed transaction, the New Balance capital group has gained direct access to the territorial market where it previously operated only though its distributor.
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