Renzenbrink & Partner advises CEWE on the divestment of its Commercial Online-Print business to Cimpress

Renzenbrink & Partner advised CEWE Stiftung & Co. KGaA on the sale of its Commercial Online-Print business, including SAXOPRINT’s production facility in Dresden as well as the sales units viaprinto and LASERLINE, to Cimpress.

CEWE Stiftung & Co. KGaA is Europe’s leading photo service. The CEWE Group has a staff of 4,000 employees and operates in 21 countries. In addition to the much-awarded CEWE PHOTOBOOK, customers can purchase personalised photo products under the brand names of CEWE, Cheerz, DeinDesign, Pixum and WhiteWall.

To date, CEWE has operated its Commercial Online-Print business through the SAXOPRINT, viaprinto and LASERLINE brands.

Cimpress plc (Nasdaq: CMPR) is the global leader in web-to-print mass customization. Cimpress brands include VistaPrint and WIRmachenDRUCK, among others.

With this transaction, CEWE is sharpening its profile as a leading provider of premium photofinishing products and is directing capital and management capacity towards growing its core Photofinishing business – both organically and through further planned acquisitions.

Completion of the transaction is subject to usual closing conditions, particularly antitrust approvals. After accounting for the disposal of the assets and liabilities allocated to this business segment, including goodwill, CEWE Stiftung & Co. KGaA expects to recognize a gain on the sale of the discontinued business in the mid-double-digit million-euro range.

Renzenbrink & Partner advised CEWE comprehensively on the legal and tax aspects of the transaction.

The CEWE team consisted of Oliver Thomsen (General Counsel) and Fritz Dauner (Legal Counsel).

The Renzenbrink & Partner team consisted of Dr. Andreas Stoll (Corporate/M&A), Dr. Jens Wrede (Tax) as well as Sophie Raming, Dr. Nils Rüstmann and Dr. Alexander Haunschild (all Corporate/M&A).