Herbst Kinsky has advised the basic AG Lebensmittelhandel (basic AG) on the sale of its Austrian subsidiary BASIC Austria Bio für alle GmbH to the Dennree Group.

The acquisition, with which Dennree acquired the Austrian business of the basic supermarket group, took place via the Austrian Dennree Naturkost GmbH in the course of a share deal. The parties have agreed not to disclose the transaction volume.

Founded in Munich in 1997, basic AG is a German-based chain of organic supermarkets and is one of the pioneers of the organic sector. Most recently, the group operated more than 20 organic supermarkets in Germany and Austria.

Dennree Naturkost GmbH operates 33 stores of the Denns organic supermarket chain in Austria. The Dennree Group is also already represented in Germany with 370 Denns organic supermarkets. In the last business year, Dennree, headquartered in Töpen, achieved a consolidated net turnover of 1.31 billion euros.

The team at Herbst Kinsky was led by Alexander Lotz and Wolfgang Schwackhöfer.

basic AG was also advised in the course of the transaction by Wellensiek Rechtsanwälte (Munich) led by Dr. Paul Abel.