GOF with Penguin Random House Verlagsgruppe on acquisition of Cross Cult Entertainment
Gütt Olk Feldhaus has advised Penguin Random House Verlagsgruppe on the acquisition of Cross Cult Entertainment Group. With this deal, Penguin Random House Verlagsgruppe is opening up the graphic literature segment expanding its portfolio to include comics, manga and manhwa.
Cross Cult’s existing management team will remain on board and will continue to operate as usual.
Penguin Random House Verlagsgruppe is a leading German-language trade publishing group with offices in Munich, Gütersloh, Berlin and Gerlingen and employs almost 1,000 people.
Cross Cult was founded in 2001 and today publishes mainly comics and manga for young people and adults under the imprints Cross Cult, Manga Cult, Manhwa Cult and CROCU.
The closing of the transaction is still subject to approval by the antitrust authorities.
GOF provided legal advice to Penguin Random House Verlagsgruppe in all phases of the transaction process with a team composed of Dr Heiner Feldhaus (Partner, Corporate/M&A, Lead, PICTURED), Thomas Becker (Of Counsel, IP/IT/Data protection), Matthias Uelner (Counsel, Corporate/M&A), Tobias Bergmeister (Associate, Corporate/M&A).
Other legal advisors to Penguin Random House Verlagsgruppe were:
- Kind & Drews, in Düsseldorf – with Dr Ernesto Drews (Partner, Tax);
- Finkenhof, in Frankfurt am Main -with Dr Lorenzo Matthaei, Karolina Astner (both partners), Maximilian Stockmann (all Restructuring Law);
- Blomstein, in Berlin – with Dr Max Klasse (Partner), Dr. Julia Lotze (both Merger Control)
- Pusch Wahlig Workplace Law, in Munich – with Ingo Sappa (Partner), Dr Miriam Engler (Associate) (both Labour Law)
