Kinstellar Sofia has advised American online resale platform ThredUp on its USD 28.5 million acquisition of European fashion resale company Remix Global.
According to Kinstellar, "U.S. based thredUp jumpstarts its expansion in Europe, adding a complementary operational infrastructure and an experienced management team." The price is subject to customary purchase price adjustments and the deal is expected to close during the fourth quarter of 2021.
Kinstellar’s team consisted of Counsel Nina Tsifudina, Senior Associates Zornitsa Georgieva, Emil Lukaev, and Georgi Kanev, and Associates Nikolay Gergov, Debora Dineva, and Ilia Lassin.
The firm was unable to disclose further information about the deal.
Editorial Note: After this article was published, Gugushev & Partners announced it advised the Remix Global majority shareholders on the deal. The firm's team consisted of Managing Partner Stefan Gugushev, Senior Partner Dimitrinka Metodieva, and Head of Corporate and Tax Department Daniela Petkova.
On October 20, 2021, Penkov, Markov and Partners announced the transaction had successfully closed. The firm advised Dutch entities AMC III Clothing and Accession Mezzanine Capital III Cooperatief on the sale of their participation in Remix. The PM&P team included Senior Partner Vladimir Penkov, Managing Partner Nikolay Cvetanov, and Associates Pavel Tsanov, Rumyana Yordanova, and Vencislav Semkov.