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Schlummersack Client Testimonial Video
September 25, 2023
Benchmark International facilitated the transaction between Schlummersack and empact brands. Watch as shareholder of Schlummersack, Karina Grassy, discusses her motivations for exiting the company, her experience with Benchmark International, and what she plans to do post-sale.
Schlummersack, based in Plauen, Germany, is one of the leading brands for high-quality baby clothing. The company specializes in the production of sustainable and innovative baby sleeping bags, which are sold online throughout Europe.
Ms. Grassy founded the company in England 13 years ago when her daughter was born and she decided to take a step into self-employment. She enquired at Schlummersack whether it already had a German distributor, which it did not.
The company grew rapidly, achieving a turnover of €600,000 after the second year. At that time, the former CEO of Schlummersack wanted to retire and approached Ms. Grassy to see if she was interested in buying the company. After much consideration, Ms. Grassy decided to purchase Schlummersack.
Since then, the company has grown into an online business with a flagship store in Leipzig, as well as a mother-child café.
When Ms. Grassy decided to pursue a growth strategy, she was not looking to sell Schlummersack, but was instead seeking a strategic partner to generate capital for further growth. After much thought and a change in circumstances, Ms. Grassy decided to sell 100% of the company as she wished to focus on something new.
Benchmark International made this possible through an asset deal as opposed to a share deal, as well as sourcing a strategic buyer that has many synergies with Schlummersack and had a strong preference to purchase 100% of the company.
The company was private equity backed e-commerce platform empact brands. Based in Düsseldorf, Germany, the company is a specialised consolidator of sustainable brands in the children and pet sectors.
Having already acquired two other online retailers, empact has a wealth of experience in integrating businesses into a group. Ms. Grassy ultimately opted for empact due to its experience in the sector and its successful track record in continuing and expanding the businesses it acquires.
Summing up the process, Ms. Grassy said:
“I successfully sold my business with Benchmark. I was initially only looking to sell shares but throughout the process changed my mind as the right buyer was found by Benchmark and I sold 100%. Benchmark has been a great partner in this process, they are competent, generated a lot of interest in my business and in the end we had 7 offers from different investors to choose from. I can highly recommend Benchmark and would like to thank them for their professionalism and help throughout this process.”
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