Jones Lang LaSalle has agreed to buy German retail consultancy Kemper’s.
The intended purchase comes on the heels of JLL’s acquisition of another German consultant, Brune Consulting Management.
JLL bought Kemper’s after Cushman & Wakefield declined to increase its 25%-stake in its alliance partner. C&W struck an alliance with Kemper’s in 2004 and took a four-year stake.
“We got engaged, so to speak, in 2004, but after four years decided against a marriage,” said Martin Brühl, C&W’s head of Germany. “Kemper’s no longer fitted culturally and strategically and we did not think the price they were asking offered good value.”
No financial details have been disclosed. JLL hopes to integrate Kemper’s Group into its own German business by May, following approval of the German monopolies and mergers commission.
The deal will boost JLL’s German staff numbers to 500.
