Dentons has advised Jochen Schweizer Group on the sale of its digital division to ProSiebenSat.1. As a result of the deal, the media company will acquire a majority stake in Jochen Schweizer GmbH which runs the experience gift business within the Group and includes online travel organizer Hip Trips, leisure community Spontacts and leisure ticket provider Regiondo. The transaction was based on an enterprise value of €108 million  which corresponds to an EBITDA multiple of approximately 11x as per the end of 2016.

The sold business will be combined with mydays, a subsidiary of ProSiebenSat.1 Media SE, into a new holding company called Jochen Schweizer mydays Holding GmbH. ProSiebenSat.1 will hold 90 percent and Jochen Schweizer will hold the remaining 10 percent of the shares in the new company. Both companies and brands will continue to operate under the new holding and their offers and strategy will complement each other. The acquisition is subject to approval by cartel authorities.

The founder Jochen Schweizer will focus on the further expansion of the Jochen Schweizer Arena – an adventure destination which opened in March 2017 – into a resort with a conference center and hotel and on other experience destination ventures.

ProSiebenSat.1 Group, headquartered in Munich, is one of the most successful independent media companies in Europe with a strong lead in the television and digital market. In recent years, ProSiebenSat.1 has built up a successful e-commerce business, which is now one of its most important growth drivers. The group employs approximately 6,000 people.

Dentons partner Simon Vogel, who led this transaction, has advised Jochen Schweizer group for many years, most notably on its acquisitions of Spontacts, Hip Trips, and Regiondo. All three of these businesses are being sold as part of the current deal with ProSiebenSat.1.
Advisors to Jochen Schweizer:

Dentons (Munich): Simon Vogel (Partner, Corporate/M&A, lead), Dr. Matthias Nordmann (Partner, Competition), Christopher Mayston (Counsel, Corporate/M&A), Dr. Andreas Berberich (Counsel), Dr. Michael Heim (Counsel, both Tax Law), Michael Singer (Associate), Michael Rebholz (Associate) Dr. Raphael Suh (Senior Associate, all Corporate/M&A), Christine Herkommer (Senior Associate, IP/IT).

Dentons (Berlin): Dr. Markus Diepold (Partner), Minh Riemann (Associate, both Employment Law).