Takeover of the book logistics company KNV by Zeitfracht is completed

- Logistics service provider Zeitfracht takes over entire KNV Group as of August 1, 2019 -
- German Federal Cartel Office grants clearance and banks approve takeover -
- Closing brings security and calm to the book market -
- Property in Erfurt sold to Thelen Group -
- Long-term lease agreed with Zeitfracht -

Stuttgart/Berlin, den 25. Juli 2019. Rund vier Wochen nach Unterzeichnung des Kaufvertrags über die Übernahme des Buchlogistikers KNV Gruppe durch die Zeitfracht Gruppe kann nunmehr die Übernahme vollzogen werden. Die beiden Bedingungen für die Wirksamkeit des Vertrages, die noch ausstanden, sind nun eingetreten. Durch die inzwischen vorliegende Freigabe des Bundeskartellamtes sowie durch die finale Zustimmung der Bankengremien übernimmt die Zeitfracht Gruppe die KNV Gruppe zum 1. August 2019. “Unser Insolvenzteam, die Geschäftsleitung und ich freuen uns sehr, dass die KNV Gruppe mit dem hervorragend zu ihr passenden Erwerber Zeitfracht ein neues Kapitel ihrer langjährigen Geschichte fortschreiben kann. Unser Ziel ist erfüllt, denn wir konnten alle Arbeitsplätze, alle Standorte erhalten und haben einen idealen Investor gefunden”, sagt Insolvenzverwalter Tobias
Wahl.

Book cycle secured
The closing of the purchase agreement paves the way for the new start of KNV, Germany's largest book logistics company. Zeitfracht, a third-generation Berlin-based family business providing services in the fields of national and international logistics, specialized shipping and freight and passenger air transport, is a strong strategic investor taking over the entire KNV Group. The acquisition and continuation of the business means that the book market is once again secure and calm. The KNV Group is regarded as an indispensable link between publishers and the entire book retail trade. KNV uses sophisticated logistics and transport management to ensure that books circulate in the book market and are delivered to bookstores overnight the next day. A breakdown of this cycle would have had unforeseeable consequences for the entire book market.

Ausbau und Weiterentwicklung der KNV Gruppe
“Wir freuen uns, dass das Kartellamt und die Banken der Übernahme ohne Bedenken zugestimmt haben. Nun werden wir mit Hochdruck die Umsetzung unserer Pläne für die KNV Gruppe angehen. Zeitfracht bietet nicht nur den rund 1600 Mitarbeitern des traditionsreichen Unternehmens ein neues Zuhause, sondern will das Geschäft nachhaltig weiterentwickeln und ausbauen. Wir bekennen uns uneingeschränkt zum Kulturgut Buch. Das Buch wird allen Unkenrufen zum Trotz noch viele Generationen prägen”, sagt Frank Schulze, Geschäftsführer Finanzen der Zeitfracht Gruppe. Am 25.07.19 haben auch die ersten Gläubigerversammlungen der jeweiligen KNV-Gesellschaften stattgefunden. Insolvenzverwalter Wahl hat auf den vom Amtsgericht Stuttgart anberaumten Berichtsterminen die Gläubiger über das Insolvenzverfahren, die hierbei umgesetzten Maßnahmen und insbesondere über den Verkauf informiert.

Logistics center changes hands
A buyer has now also been found for the KNV Group's property in Erfurt in the course of a bidding process. In agreement with the creditors' committee, the Thelen Group from Essen is acquiring the property in Thuringia, where the KNV Group's logistics center is located. The insolvency administrator had already agreed a long-term lease for 15 years with an extension option with time freight, which will be taken over by the Thelen Group and transferred to it.

Solidarität der Mitarbeiter, Verlage und Buchhandlungen
“Ich bedanke mich bei allen Beteiligten, den Mitarbeiterinnen und Mitarbeitern sowie der Geschäftsführung, die in einer schwierigen Phase stets mit Zuversicht und hohem Engagement an eine Zukunftslösung geglaubt und einen tollen Job gemacht haben. Danken möchte ich vor allem auch dem Börsenverein des Deutschen Buchhandels und den vielen großen und kleinen Verlagen sowie den zahlreichen Buchhändlern, die uns mit großer beeindruckender Solidarität unterstützt und immer Mut gemacht haben”, sagt Wahl. Durch den Einstieg von Zeitfracht und die optimal zueinander passenden Leistungsportfolios von KNV und Zeitfracht bieten sich erhebliche Synergien, sodass sich interessante Perspektiven in einem kompetitiven Markt ergeben.

About the KNV Group
Koch, Neff & Volckmar GmbH (KNV) is a book wholesaler and provides comprehensive logistics services for retailers in German-speaking countries. The company has been operating media logistics for over 185 years. Its core competence lies in the distribution of books, e-books, games, DVDs, music CDs, calendars and many other bookselling articles. KNV acts as a link between publishers and bookstores and supplies its customers overnight with around 590,000 items from over 5,000 suppliers from its wholesale warehouse in Erfurt. KNV transport management ensures the bundled overnight delivery of goods from KNV book wholesalers and goods from publishers to retailers. KNV also offers the book trade additional services such as special software, marketing support and logistics services. KNV supplies retailers in Germany, Austria and Switzerland as well as 70 other countries worldwide. The sister company KNO Verlagsauslieferung (KNO VA) acts as a full-service provider for warehousing, distribution and other services such as order processing, invoicing, accounting, IT development, statistics and evaluations for over 300 publishers. In addition to the headquarters in Stuttgart and the distribution warehouse in Erfurt, another publishing distribution company, LKG Leipziger Kommissions- und Großbuchhandelsgesellschaft mbH in Rötha near Leipzig, belongs to the KNV Group. More information at: www.knv.de

About the Zeitfracht Group
The Zeitfracht Group is a medium-sized, owner-managed family business with more than 3000 employees and headquarters in Berlin. As a logistics service provider, Zeitfracht has been firmly established in the national and international logistics industry for over 90 years and is one of the leading providers of system transportation in Germany and Europe. In recent years, Zeitfracht has developed into a group of companies with the three pillars of logistics, aviation and real estate. Last spring, Zeitfracht took over the aviation company Walter from Deutsche Lufthansa and since then has been carrying out parts of Eurowings' regional transportation. More information at: www.zeitfracht.de

About the Thelen Group
Founded in 1988 and headquartered in Essen, the Thelen Group is a project developer and portfolio holder active in real estate management and planning management. The Group owns 14.5 million m² of land and 2.5 million m² of buildings. The Thelen Group also covers the following business areas: energy management, construction companies, digital infrastructure, service companies and training companies. The group employs more than 600 people at 6 locations.

More information at: www.thelen-gruppe.com

About attorney Tobias Wahl | anchor Rechtsanwälte
Attorney Tobias Wahl is a partner in the law firm anchor Rechtsanwälte, which specializes in insolvency administration and insolvency law advice. The nationwide law firm anchor Rechtsanwälte and the management consultancy anchor Management are represented by a total of 15 partners and 120 employees at 11 locations in Augsburg, Braunschweig, Düsseldorf, Hanover, Hildesheim, Cologne, Mannheim, Munich, Weilheim, Stuttgart and Ulm. Due to their outstanding expertise, anchor lawyers are regularly proposed and appointed as insolvency administrators, trustees or restructuring managers in insolvency, self-administration and protective shield proceedings throughout Germany. In the past, the law firm has assisted and restructured numerous large companies in insolvency. In addition to its extensive experience and expertise in insolvency law, anchor also contributes business management know-how to advisory mandates. The team concept is always at the forefront at anchor.
More information at: www.anchor.eu