The e-commerce specialist The Platform Group AG wants to completely take over the online furniture retailer Möbelfirst.
The group, which has held the majority of the Bonn-based operating company Möbelfirst GmbH since 2021, will also acquire the remaining 49.9 percent of the shares, The Platform Group said on Friday. The transaction was agreed to be completed on March 1st next year, according to a statement. “Both parties agreed not to disclose the purchase price.”
Dominik Benner, the CEO of The Platform Group, justified the move: “Möbelfirst has developed very well as a platform, has always been profitable and now reaches shopping carts of an average of 4,100 euros – this is unique in the furniture industry,” he explained in a statement. “We are pleased to now increase our shares to 100 percent and to consistently pursue our profitable growth strategy.”
The group, which also includes the online fashion retailer Fashionette, announced further acquisitions for 2024. The plan is to continue the “successful acquisition strategy” next year and acquire between three to eight additional companies, both in the B2B and B2C sectors, explained The Platform Group.