BERLIN – 25 JULY, 2024 – GT Restructuring, the restructuring unit of Greenberg Traurig in Germany, has successfully led the premium gin producer Elephant Gin out of insolvency by selling the company. The investor Carl-Lambert Leisewitz, CEO of Laux GmbH, is taking over the company. The parties have agreed not to disclose the purchase price.
The Charlottenburg Local Court opened insolvency proceedings for the assets of Elephant Gin GmbH on June 1, 2024, and appointed Gordon Geiser, partner at GT Restructuring, as insolvency administrator. The insolvency was caused by charges from loans for a new distillery and other company investments.
As insolvency administrator, Geiser stabilized the operational business of Elephant Gin and conducted a comprehensive investor process to find a suitable investor with a long-term strategy for the company. The successful sale within four months of the insolvency proceedings being initiated not only secures the future of the company, but also the production site in Wittenburg, Mecklenburg-Vorpommern, and thus most of the jobs. The management will also remain involved in the business operations in order to ensure the continuity of the company together with the new investor and to preserve the company's values.
Elephant Gin is known for its award-winning craft gins and its special commitment to nature conservation. Since its foundation in 2013, the company has continuously donated to African elephant conservation projects and raised over 1 million euros for nature conservation.
Laux GmbH, founded in 1990, specializes in the production and distribution of delicatessen, spirits and gourmet products and has established itself as a premium food manufacturer in Germany.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 47 locations in the United States, Europe, the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 6.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono initiatives. Web: www.gtlaw.com.