CELEX: 32020M9957
Language: en
Date: 2020-10-19 00:00:00
Title: Commission Decision of 19/10/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9957 - ADVENT INTERNATIONAL / OTTO / HERMES PARCELNET / HERMES GERMANY) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 19.10.2020
                                                                C(2020) 7273 final
                                                                                PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9957 – ADVENT INTERNATIONAL / OTTO / HERMES
                PARCELNET / HERMES GERMANY
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 24 September 2020, the European Commission received a notification of a
        proposed concentration pursuant to Article 4 of the Merger Regulation by which
        Advent International Corporation (United States, “Advent”) intends to acquire within
        the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of
        Hermes Parcelnet Limited (UK, “Hermes UK”), belonging to the Otto group, and
        Advent and Otto GmbH & Co KG (Germany, “Otto”) acquire within the meaning of
        Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Hermes Germany
        GmbH (Germany, “Hermes Germany”), belonging to the Otto group. The
        concentration is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     for Advent: a private equity investment business, focused on the acquisition of
              equity stakes and the management of investment funds in various sectors,
              including business and financial services; industrial goods and services; retail
              operations, branded consumer goods, and leisure services; media,
              telecommunications, and information technology; and healthcare services and
              pharmaceuticals. Its portfolio companies have global activities, including in
              United States, Europe, Asia, and South America,
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 325, 02.10.2020, p. 25-26.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---    −    for Otto: the holding company of various companies forming the Otto Group.
        Globally active in the area of retail and retail-related services,
   −    for Hermes UK: operates multi-channel delivery and collection services (i.e.
        courier services) in the United Kingdom,
   −    for Hermes Germany: operates multi-channel delivery and collection services (i.e.
        courier services) in Germany.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                     For the Commission
                                                     (Signed)
                                                     Olivier GUERSENT
                                                     Director-General
4  OJ C 366, 14.12.2013, p. 5.
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