In a move that could reshape Europe's home furnishings landscape, Austrian furniture retail powerhouse XXXLutz has announced its acquisition of Berlin-based e-commerce leader Home24. The strategic takeover represents a bold bet on the future of omnichannel retail in the furniture sector.
Strategic Acquisition: XXXLutz Secures Digital Future
The Austrian retail group has entered into a business combination agreement with Home24 through its subsidiary RAS Beteiligungs GmbH. XXXLutz will acquire all outstanding Home24 shares at €7.50 per share, representing a 124% premium over the recent trading price.
"This acquisition aims to provide long-term, strategic and sustainable financial support for Home24's growth strategy," XXXLutz stated in an official announcement. The transaction, subject to merger control approvals, will see XXXLutz initially acquire approximately 60% of Home24's share capital.
Home24: Europe's E-commerce Furniture Pioneer
Founded in 2009, Home24 has established itself as Europe's premier online destination for furniture and home accessories. Operating across Germany, France, Austria, Netherlands, Switzerland and Belgium, the digital retailer employs over 1,500 staff and offers an extensive catalog featuring both branded and private-label products.
"We're excited to continue our journey with XXXLutz as a strong partner," said Home24 CEO Marc Appelhoff. "Their willingness to support our vision while maintaining our independent operations was particularly important."
XXXLutz: Brick-and-Mortar Behemoth
With annual revenues exceeding €5.34 billion and 370 physical stores across 13 European countries, XXXLutz brings formidable retail expertise to the partnership. The acquisition marks the Austrian company's most significant move into digital commerce to date.
"Home24 represents an ideal acquisition for XXXLutz given its strong brand and market leadership," said XXXLutz spokesperson Thomas Saliger. "We've been impressed by what the Home24 team has achieved and will support their future growth."
Operational Independence Maintained
Notably, Home24 will retain its Berlin headquarters and current management team, with executives Philipp Steinhäuser, Brigitte Wittekind and Marc Appelhoff having renewed their contracts. The company will continue operating independently with a focus on its digital business model.
"In challenging market conditions, attracting a strategic investor like XXXLutz demonstrates confidence in our business model," Appelhoff added. "We believe this creates excellent prospects for our employees and shareholders."
Industry Implications
The merger creates one of Europe's most comprehensive home furnishings retailers, combining XXXLutz's physical footprint with Home24's digital expertise. Analysts suggest the deal could accelerate the industry's shift toward blended online-offline retail experiences.
Following completion of the transaction, XXXLutz plans to delist Home24 shares from public markets. The agreement includes provisions preventing XXXLutz from entering into profit transfer agreements with Home24 for three years post-acquisition.