Berlin Brands Group becomes a unicorn
Lars-Thorben Niggehoff | 02.09.2021The private equity firm Bain Capital is putting a three-digit million sum into the online retail company. However, CEO and founder Peter Chaljawski and his team still hold the majority.
Berlin-based e-commerce company Berlin Brands Group (BBG) can be happy about a gigantic capital injection. The company announced that private equity investor Bain Capital is putting $700 million into Brands Group. For the money Bain takes over the 40 percent share of the previous investor Ardian. This brings Berlin Brands Group to a valuation of more than one billion US dollars, meaning it is now among the ranks of the unicorns.
Founded in 2005, the company sells self-developed private brands through online channels. Meanwhile, it also buys existing retailers, such as those that operate successfully on Amazon Marketplace. "With Bain Capital's commitment and the additional funding, we have set the next milestone on our way to becoming a Global House of Digital Brands," says Peter Chaljawski, CEO of BBG. He continues to hold a majority stake in the company after the new partner joined, along with other executives.
Earlier this year, BBG announced a $240 million funding round. The company has been profitable since its inception, according to Chaljawski. BBG operates in 28 countries, selling 3,700 products. The company employs 900 people worldwide.
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