After months, the takeover of the Hamburg e-commerce group about You Holding SE by Berlin online retailer Zalando SE is perfect. On Friday, Zalando announced the successful completion of the “strategic merger” of the two German sizes.
Appropriate plans had been presented last December and gradually implemented since then. As part of a voluntary public takeover offer, Zalando was able to secure more than 90 percent of the About youou shares in the spring, and on July 1, the competent competitive officers of the European Commission had given green light for the transaction. This was finally carried out on Friday. The shareholders of the remaining minority shareholders: Inside about you, Zalando now wants to acquire Zalando using a squeeze-out.
Both brands are continued
Robert Gentz, one of Zalando’s founders and co-Coos, praised the transaction: “Zalando and About You have developed from local start-ups to European success stories,” he said in a statement. “We have a clear focus on quality, innovation and announcement: Together we will be an unbeatable team and actively shape the European fashion and lifestyle e commerce.”
As already announced, both portals are now continued as part of a “two-brand strategy” in order to protect their brand identity. The “complementary logistics and software solutions” of the two companies-Zeos, Tradebyte and Scayle-are to be bundled in order to “create an even more powerful e-commerce operating system for brands and dealers: inside.
Zalando plans to integrate About You in his group structure as a 100 % subsidiary. The company relies on personnel continuity. “The board members of About You, Sebastian Betz, Tarek Müller and Hannes Wiese will continue their successful work in their previous functions within the combined group,” confirmed Zalando.