1、Distressed M&A 2025:Rising number of increasingly complex processesEdition RetailJanuary 2025Kearney XX/ID2Introduction of Kearney and consideration of partnersDistressed M&A success factors(case study)Distressed M&A in the retail&consumer marketDistressed M&A market Source:KearneyChapters&key insig

2、htsDistressed M&A is anticipated to rise,despite a decline relative to other insolvency outcomes,underscoring the critical importance of a well-managed M&A processDistressed M&A definition Companies that have been entirely or partial sold,that had filed for insolvency before4321We thank our leading

3、restructuring partners for their contribution to our study;Kearney combines global expertise in key sectors with in-depth M&A experienceA well-structured sell-side process is key and requires an experienced advisor with an extensive network to(financial)investors and a solid understanding of the ind

4、ustry to identify and attract strategic investorsM&A deals in the retail&consumer market are expected to remain stable,albeit on a higher level compared to previous yearsM&A deals are expected to moderately increase,driven by an expected increase in insolvenciesHowever,M&A as a share from other inso

5、lvency outcomes(e.g.liquidations)is expected to declineKearney XX/ID3Distressed M&A remains the predominant insolvency outcome and is expected to riseThe role of distressed M&A1 in large insolvencies2 in GermanyDevelopment of share distressed M&A5%share of responses Expert consensus Germany41.Compan

6、ies that have been entirely or partial sold,that had filed for insolvency before;2.Companies 100 FTEs 3.Return on invested capital;4.Bases on expert/partner interviews5.Rated from 1(strongly declining/ed)5(strongly increasing/ed)Source:Expert interviews;Kearney The increase in insolvencies leads to