I recently had the pleasure of representing a Dayton-based retailer in a business acquisition matter. My client purchased essentially all the assets of one of its competitors, and assumed lease agreements for two store locations. This brought my client to 10 total locations.
I drafted an asset purchase agreement that was custom tailored toward insulating my client from the seller’s creditors. I also negotiated with the seller’s landlord to remove the personal guaranty clauses from the lease assumption agreement. My client approached me last Friday and we managed to close the deal on Wednesday, allowing my client to be up and running before Black Friday.
If your business is considering a similar transaction, there are several complex issues to consider when acquiring another business. I would be glad to discuss your options with you or your company’s management team.