Katjes International acquires a majority stake in Bogner Group and secures related financing
We have advised Katjes International GmbH & Co. KG (Katjes International), a leading German group of companies investing in branded consumer goods across Europe, on the acquisition of a 60% stake in Willy Bogner GmbH (Bogner Group), the largest family-owned luxury apparel brand in Germany, and related financing. The remaining 40% of the shares will continue to be held by the Bogner family. The new tailored syndicated financing at target level, replaces the existing private debt facility as the primary source of funding on significantly improved terms and refinances the existing bilateral guarantee line, while harmonising the credit documentation.
The acquisition will primarily be financed by the net proceeds of an increase in Katjes International’s bond 2023/2028 (WKN: A30V78 / ISIN: NO0012888769) by €70m through a private placement, bringing the total outstanding volume to €185m. The transaction was supported by a broad base of national and international institutional investors.
With this step, Katjes International is adding another well-known brand in the consumer goods sector to its existing brand portfolio. The two family-owned companies share a passion for strong, established brands with a long tradition and a common goal of long-term, sustainable value creation. Katjes International’s investment gives Bogner Group the opportunity for continued growth with an experienced partner on the basis of a strong capital structure. The partners intend to invest jointly in the expansion and further internationalisation of the brand.
Headquartered in Munich, Germany, the internationally operating Bogner Group focuses on luxury sports and leisurewear, and is particularly renowned for its ski and outdoor collections under the brands ‘Bogner’ and ‘Bogner Fire + Ice’. In FY 2024/25, the Bogner Group generated net sales of nearly €200m.
Katjes International, together with its two legally independent sister companies, the well-known confectionery manufacturer Katjes Fassin GmbH & Co. KG and Katjesgreenfood GmbH & Co. KG, as well as the respective subsidiaries and investments of these three companies, form the Katjes Group. With a focus on branded consumer goods in Europe, Katjes International bundles its investments in companies with strong and established brands. The portfolio includes more than a dozen investments in confectionery with brands like Treets, personal/body care with brands like Theramed, and luxury with brands like Bogner.
The acquisition of a majority stake in the Bogner Group represents our entry into luxury goods, further strengthening our existing portfolio of well-known brands. In this process, Clearwater’s partnership as a debt and M&A adviser was invaluable. Their ability to deliver a creative and innovative financing package, as well as their strategic insight, was critical to closing the deal.
We are incredibly proud to have supported Katjes International in this landmark acquisition. This was a highly complex transaction, and we were honoured to partner with a client who trusted us to develop and execute a strategic and innovative financing solution. By working closely with the Katjes team, we were able to achieve a successful outcome that positions the Bogner Group for future growth.