Watson Farley & Williams (“WFW”) has advised leading German candle manufacturer GALA Kerzen on the tax-related aspects of its acquisition of a majority share in Berlin-based start-up JuwelKerze JewelCandle GmbH (“JuwelKerze“). The parties have agreed not to disclose further details of the transaction.
GALA Kerzen, which is backed by funds managed by leading mid-market private equity firm Equistone Partners Europe (“Equistone”), operates out of two production sites in Germany and Hungary and is well known for its modern production facilities and high quality standards.
JuwelKerze primarily focusses on producing high quality perfumed candles with incorporated jewels based on established brands JuwelKerze and JewelCandle, which are sold online in the German, French, Italian, Austrian, Dutch and UK markets. The company has been actively increasing its market share by working with key influencers across Europe and through a highly successful social media marketing campaign which has given it more than a million followers and fans. Its circa 50 qualified employees operate out of two production sites in Germany and one in Poland.
Verena and her team advised Equistone on all tax law aspects relating to its 2016 acquisition of a majority share in GALA Kerzen. She also recently advised the latter on the tax-related aspects of its recent acquisitions of stakes in Polish-based Korona Candles S.A. and India’s Ramesh Flowers.