XXXLutz wants to take over Home24

The online furniture retailer Home24 is apparently about to be taken over by XXXLutz. However, it is to remain an independent company.

In spring, the online furniture retailer Home24 took over the household goods chain Butlers - and now it is very likely that the start-up itself will be taken over by XXXLutz. A business combination agreement between the companies and the XXXLutz subsidiary RAS has already been signed, according to a press release. The Austrian furniture giant already owns 60 percent of the voting rights in Home24. The voluntary public takeover offer amounts to a price of EUR 7.50 per Home24 share. This is a premium of 142 percent on the average share price of the last three months.

XXXLutz plans to delist Home24 after the takeover. However, the existing company structure and the core brands are to be retained as independent brands. The Management Board and Supervisory Board of Home24 support the takeover. Phillip Steinhäuser, Brigitte Wittekind and Marc Appelhoff have extended their Management Board contracts. The takeover is subject to the normal antitrust reservations. The furniture market has been hit by the war in Ukraine and inflation. According to the German Press Agency Marc Appelhoff also sees the takeover as a suitable means of making Home24 more robust despite the slump in consumption. His company could benefit from XXXLutz in terms of purchasing and logistics.