Home24 takes over Butlers

Lisa Marie Münster Lisa Marie Münster | 23.12.2021

One is strong online, the other in German city centres. Now they are bundling their offerings: Home24 is buying the Butlers chain.

Home24 has just been kicked out of the SDAX, now the company dares to attack and buys the retail chain Butlers. Home24 is thus taking over the 130 stores in eleven countries of Butlers, in which household goods, gift articles and home decorations are sold. In the future, Home24's online offering is also to be integrated into the stores; so far, the company itself already operates ten showrooms.

The purchase price has been fixed at 65 percent and amounts to 38 million euros, part of the debts have already been offset. The remaining 35 percent is tied to a profit target and will also be offset against debts. Home24 will pay part of the purchase price with its own shares, which means that Butlers boss Wilhelm Josten will in future hold 3.9 percent of the online furniture retailer.

Butlers has existed since 1999 and today employs 1,000 people. 100 of Butlers' stores are located in Germany, and the company generates 25 percent of its sales online. After the purchase, the company will remain in Cologne, and the management will also remain.

"The Butlers and home24 ranges complement each other perfectly," says Marc Appelhoff, CEO of Home24. "The Butlers stores in attractive city locations multiply our personal contact opportunities with customers and increase our independence from online marketing. At the same time, we strengthen our respective online offerings." In doing so, Appelhoff is aiming for "estimated total sales of around 700 million euros in 2021".

Founded in 2009, Home24 now has 1,900 employees and operates primarily in Europe and Latin America. In 2018, the company went public, and in 2020 it benefited from the Corona pandemic. Just earlier this month, it was kicked out of the SDAX due to poor numbers.


Like it? Please spread the word:

Newsletter

Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.

LinkedIn Connect

Take care, give care

Did this news inform or entertain you? Then we would be happy if you tell your network about it.

Share on Linkedin Share on Facebook Share on Xing

Related companies

Startup 2009 Berlin home24 Home & Living E-commerce Platform.

FYI: English edition available

Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?

Go to English edition

FYI: Deutsche Edition verfügbar

Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?

Deutsche Edition öffnen

Similar posts