Raue LLP advises the founding shareholders of the online toy retailer MyToys Group on the sale of 20% of its shares to Otto Group, a leading retail and service group. The Hamburg-based Otto Group thus increased its share from 74.8% to 94.8% and takes over the shares of the founding MyToys shareholders who are no longer actively involved in management.
Dr. Oliver Lederle and Florian Forstmann who will continue to be active in the management of the Company founded MyToys Group in Berlin in 1999 together with three other founders. The company became part of Otto Group in 2000 and operates the online stores Ambellis and Mirapodo and the online shopping community Limango. With more than 1,500 employees MyToys Group generated sales of 424 million euros in the fiscal year 2014/15, representing an increase of 11% compared to the previous year. The Otto Group companies generated combined worldwide sales of 12.1 billion euros in the fiscal year 2014/15.