XXXLutz takes over Home24

In October, the furniture group announced the takeover. Now it has secured more than 92 percent of the shares.

Furniture group XXXLutz has secured around 92.67 percent of Home24's current share capital. To this end, it offered shareholders 7.50 euros per share. The offer was thus a good 124 percent above the closing price of the share on the day before the announcement of the offer, as the Manager Magazine reported. However, the issue price in June 2018 was still 28.50 euros.

The companies are now still waiting for antitrust clearances, then furniture giant XXXLutz will take over the online retailer almost completely. The Home24 share is then to be delisted from the stock exchange. Founded in 2009, the home & living e-commerce platform offers more than 250,000 products ranging from furniture to mattresses in seven European markets and Brazil. The lifestyle brand Butlers, with more than 100 stores in the DACH region, is also part of Home24.

Home24 CEO Marc Appelhoff apparently supports the acquisition. In view of the consumer slump, XXXLutz as a new investor will provide the start-up with more robustness, he told Deutsche Presseagentur in October. The furniture giant is now one of the world's top three furniture retailers, according to its own figures, with annual sales of 5.34 billion euros.