Ashurst advised DZ BANK AG Deutsche Zentralgenossenschaftsbank, Frankfurt am Main ("DZ BANK") on the financing of the acquisition of OTTO Office GmbH & Co KG ("Otto Office") by its competitor Printus Fachvertrieb für Bürobedarf GmbH ("Printus"). The mail-order retailer of office supplies was sold by Hamburg-based mail order group Otto for an undisclosed consideration.

By taking over Otto Office, Printus, Germany's market leader in commercial office supplies, enters Europe's Top three largest B2B sellers of office products on the internet and in the catalogue area with more than 1,300 employees and an annual revenue of over €700 million.

The Ashurst team comprised banking partner Derk Opitz (lead), associate Annabelle Sachs and transaction manager Dominique Blaurock (all Frankfurt).