With the acquisition of Grosbill, mutares forms a French champion in the European e-commerce market

mutares AG (ISIN: DE000A0SMSH2) has acquired Grosbill SA from Groupe Auchan. Joint forces with Pixmania will create one of Europe’s leading online retailers for consumer electronics.

Grosbill SA (www.grosbill.com) is a French omni-channel distributor of consumer electronics with a special focus on IT products. In 2014, it generated sales of EUR 109m with 150 employees via its website and its network of nine stores. After the review of the irrevocable offer submitted by mutares for the acquisition of Grosbill, the workers’ representatives of the company voted in favour of the concept presented by mutares. The transaction can be closed after the approval by the antitrust authorities.

The joint forces of Grosbill and Pixmania will create a French e-commerce champion being present in 14 European countries. The market positions of both companies are complementary in an ideal way. The outstanding recognition of both brands combined with their operational excellence are their key differentiators and growth drivers.

The trust of Groupe Auchan, one of the French blue chips, in the expertise of mutares and its capability to sustainably develop Grosbill is the result of mutares’ outstanding track record in France. After the foundation of the office in Paris, there has been a significant increase in the French M&A dealflow. Therefore, mutares expects to conclude at least one additional acquisition in France this year.