XXXLutz wants to take over Home24

The online furniture retailer Home24 is apparently on the verge of being taken over by XXXLutz. However, it is to remain an independent company.

Just this 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 XXXLutz subsidiary RAS has already been signed, according to the press release. The Austrian furniture giant already owns 60 percent of Home24's voting rights. The voluntary public takeover offer amounts to a price of 7.50 euros per Home24 share. This is a premium of 142 percent on the average price of the last three months.

XXXLutz plans to delist Home24 after the takeover. However, the existing company structure and core brands are to be retained as independent brands. Home24's management board and supervisory board support the takeover. Phillip Steinhäuser, Brigitte Wittekind and Marc Appelhoff have extended their Management Board contracts. Normal antitrust reservations apply to the takeover. The furniture market has been hit by the Ukraine war and inflation. Therefore, according to Marc Appelhoff German Press Agency Marc Appelhoff 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.