Department store chain Breuninger off the market: bids too low

Breuninger puts its planned sale on hold after disappointing bids. The families behind the German luxury department store chain hoped to raise around €2.5 billion, but received lower bids. Perhaps another attempt will follow later.

Amazon showed interest

Since the summer of 2024, the owner families have been exploring the possibilities for a sale. A price tag of €2.5 billion was circulating in the market, but potential buyers considered this amount too high, as around €1.8 billion of this is attributable to real estate and less to retail activities. This was reported by trade magazine WirschaftsWoche.

Nevertheless, there was reportedly considerable interest. A total of 31 parties came forward, ranging from retail companies and investors to international players. Even Amazon is said to have explored the possibilities. Breuninger has 13 luxury department stores in prime locations in Germany, as well as several branches in Luxembourg. The company also operates a webshop that is active in ten countries. Online sales now account for more than half of the annual turnover of approximately €1.5 billion.

However, a sale in which the real estate would be sold separately was not an option. According to the owners, the properties are too closely intertwined with the retail activities. The families are monitoring market conditions and keeping the option of a later sale open; until then, the company will remain in family hands.