GvW Graf von Westphalen advises Tivola Ventures on Majority Acquisition of Utopia
GvW Graf von Westphalen has advised Tivola Ventures GmbH on the acquisition of a majority stake in Utopia AG.
Tivola Ventures with its seat in Hamburg is a sustainable and long-term venture capital investor with a focus on education, family, health, children, sustainability, new forms of energy and environmental protection. 95% of Tivola Ventures are held by the German Print and Publishing Company (Deutsche Druck- und Verlagsgesellschaft – ddvg), the holding company of the Social Democratic Party of Germany (SPD). Besides Tivola Ventures, ddvg has a broad investment portfolio, in particular in the newspaper and magazine sector.
Utopia AG with its seat in Munich is Germany’s leading internet platform for sustainability with 350,000 visitors per month. The company’s aim is to motivate people to lead a sustainable lifestyle. The company supports environmental-friendly products and fair working conditions. Its customers include large companies, such as Saturn, Otto, Frosta, REWE, Krombacher und Unilever.
Following the acquisitions of participations in Avocado Store, the market place for ecological fashion, and the flea market app Stuffle, the acquisition of the majority stake in Utopia AG is a further step in Tivola Ventures’ strategy to invest in sustainable companies.
Under the lead of Hamburg-based partner Dr. Ritesh Rajani (Corporate/M&A), Tivola Ventures was advised by a team consisting of partner Dr. Malte Evers (Employment), associated partner Dr. Patrick Wolff (Commercial) as well as associates Dr. Christian Triebe (IP), Jan Bela Hermann (Corporate/M&A) and Marius Bodenstedt (Employment; all Hamburg).
The shareholders of Utopia AG were advised by Taylor Wessing.
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