Hogan Lovells advises Multiply Group on the acquisition of a majority stake in Tendam

Press releases | 24 July 2025

Hogan Lovells hosted at its Madrid office the closing of the acquisition by Multiply Group of a 67.91% majority stake in Tendam from CVC and PAI Partners. Tendam is Spain's second largest specialist fashion retailer by market share, and owner of international brands such as Cortefiel, Springfield, Women'secret and Pedro del Hierro.

A cross-border and multi-practice team of Hogan Lovells lawyers, led by M&A team members Alex Dolmans, Enrique de Pablos and Hugo Muñoz, has advised Multiply Group in the acquisition, alongside Multiply Group’s legal team led by Ruchi Sharma. Other key Hogan Lovells members in this strategic transaction include Rocío Torres (Junior Associate) from the M&A team, and Casto González-Páramo (Partner) and Raquel Fernández (Senior Associate) for antitrust and FDI matters, as well as several other Hogan Lovells lawyers in its Madrid, Luxembourg and Mexico offices.

Greenhill acted as M&A advisor, and KPMG advised on financial and tax matters. Law firms Uría Menéndez, Latham & Watkins and Hermosilla Abogados advised the sellers and the company respectively.

The acquisition of the business of Tendam in Bosnia and Herzegovina will not become effective until the required clearance is obtained from the competent Bosnian competition authority.