Redevco has acquired a majority stake in Redos, the Hamburg-based large-scale retail and urban logistics property investment specialist.
Founded in 2004, Redos operates retail warehouse parks and convenience retail sites in Germany.
In addition, Redos has a growing urban logistics business which allows for an integrated approach to servicing urban areas.
The acquisition strengthens Redevco’s market position, especially in the highly attractive and resilient retail park segment and boosts its assets under management (AuM) from €6.7 billion to approximately €9.7 billion.
Andrew Vaughan, CEO Redevco: “Through the acquisition of Redos, we are significantly growing our assets under management and the ability to realise our mission to help cities and urban areas become more sustainable and liveable. The acquisition of such a stellar performer in Germany provides Redevco with an excellent foundation to create a pan-European retail warehouse park platform, and a springboard into urban logistics.”
Redos will retain its operational independence and experienced senior leadership, including CEO Oliver Herrmann, who remains as minority shareholder, and CFO Carsten Wimmer.
Oliver Herrmann, CEO Redos: “We are delighted to team up with Redevco as we share the same vision and values. Both companies put sustainability at the forefront of our strategies to be a driver for positive change in the respective areas we focus on. Joining forces by combining our expertise in large-scale retail and urban logistics properties in the German market with Redevco’s international scale, long-term approach, and financial power, significantly strengthens our leading position in the retail park arena and provides a solid basis for future growth in close cooperation with our existing investor clients.”
Herman Jan Faber, Head of Business Development Redevco: “Our acquisition of Redos is an important first milestone in our growth strategy, focused squarely on cities and urban areas. Through redos’ complementary capabilities we can extend our investment offering across different sectors. Redevco’s acquisition of redos is just the first step, and we are actively looking at potential joint venture opportunities and further acquisitions, in line with our strategy and mission.”