PPG Industries Lackfabrik GmbH acquired in 2021 the previously family-owned business of Wörwag, headquartered in Stuttgart, Germany, representing approximately 1,100 employees worldwide and revenues of approximately €220 million in 2020. Wörwag specializes in the development of sustainable liquid, powder and film coatings. In addition to its three sites in Germany, Wörwag operates locations in the USA, China, South Africa, Mexico, Spain, Switzerland and Poland.
Hofmann Klafsky & Fertig advised on various post acquisition matters, in particular the integration of the acquired entities. Among other things, various options for the integration of the acquired foreign subsidiaries from a tax perspective were examined. Possible measures for the integration of the foreign subsidiaries were identified with the aim of enabling if possible a tax-neutral group reorganization. Among others, cross-border mergers as well as the divestments of subsidiaries were reviewed in detail.