maconda supports leading South African retailer Mr Price Group in the acquisition of NKD, a leading German-based value retailer operating in seven European countries
maconda News – December 2025
German consulting boutique maconda supported Mr Price Group, the leading South African value retailer, with a Commercial Review related to the acquisition of NKD, a leading European retailer focused primarily on value-for-money apparel. By acquiring NKD from an entity owned by funds managed by TDR Capital, Mr Price Group is entering the European market and adding seven countries to its Southern African business.
maconda is a leading provider of commercial due diligence in the DACH region. The firm has extensive experience in the retail sector, particularly across the apparel industry value chain, as well as in a range of other non-food categories. maconda supports all types of distribution channels and customer groups. The multinational maconda team delivered market and competitor analyses and strategic advice, supporting Mr Price Group in its first acquisition outside Africa. This milestone cross-border transaction demonstrates maconda’s expertise and significant contribution to major international deals.
maconda adopted a multi-stage approach to review the current and future development of the value-for-money apparel market, based on analyses prepared by the vendor and its own advisors. Historical market development was compared with the performance of the most important direct competitors, while the market forecast was validated using a range of market-influencing indicators, helping to build confidence in the thriving market environment. NKD’s relevant competitors were examined in detail by country, and the findings were enriched with insider knowledge from numerous expert interviews conducted in several focus countries. This not only clearly identified their market positioning but also compiled their future growth plans. Based on these findings, maconda assessed the planned store rollout in several countries to determine its plausibility. This confirmed the fundamental feasibility of the planned expansion and helped define the measures required for a successful rollout.
About NKD
NKD is a leading German value apparel retailer with almost 2,200 stores in seven European countries. In addition to its home market of Germany, NKD is the market leader in Austria and is active in Italy, Poland, the Czech Republic, Croatia and Slovenia. Annual revenues amounted to approx. €700m in 2024.
About Mr Price
Mr Price Group Limited is a publicly listed omnichannel retailer of apparel and household goods and the market leader in value apparel retail in Southern Africa. Its head office is in Durban, South Africa. Annual sales reached approx. €2bn in 2024. The group operates more than 3,000 stores across nine business divisions and has a market capitalisation of approx. €2.8bn (as of 24 November 2025).
maconda sends a strong signal by contributing to one of Europe’s largest apparel deals in recent years
By supporting Mr Price Group’s entry into the European market, maconda contributed to a major retail transaction. Together with Mr Price, NKD will continue to shape the European value apparel market. With NKD joining the Mr Price “family”, the combined group’s global footprint will comprise over 5,000 stores, approx. €2.7bn in annual sales, and over 40,000 employees.
Among other things, the maconda team has extensive experience in retail and wholesale channels and across a wide range of apparel, textile and other non-food categories. This expertise includes numerous commercial due diligences, strategic realignment mandates and business model optimisations within the sector.
maconda is one of the most active specialists for demanding and comprehensive commercial due diligence in the German-speaking market and neighbouring countries, and is therefore able to operate quickly and precisely across a variety of European markets. Many projects focus on consumer goods and their omnichannel distribution, but also on a wide range of other industries, such as B2B products and services, construction, and software.
Extensive industry experience: Apparel of all kinds | Textiles | Value-for-money products | Promotional items | Premium products | Wholesale | Omnichannel retail | Brands & private label business | Logistics & supply chain management | Recycling | and much more
About maconda
For more than 20 years, maconda has been supporting mergers & acquisitions, performance optimisation and restructuring. With over 800 consulting and implementation projects and more than 450 transaction-related mandates, maconda has extensive experience in providing pragmatic support for even the most challenging projects. Its clients include medium-sized companies, divisions of large companies, as well as international private equity investors and family offices.
Core advisory fields: Transaction consulting | Business model development | Performance management