France's Vente-Prive, which specialises in the sale of stock online, has bought its Spanish competitor, Vente-Prive. Privalia, for an undisclosed price, which is estimated to be around €500M. This operation responds to the objective of strengthening its presence in France and Spain, with the creation of an e-commerce giant of €2,500M. With this operation, the French giant aims to grow by 40% internationally.
In addition to Spain, Privalia is present in Italy, Mexico and Brazil.
The biggest exits of a startup in Spain
This transaction is the largest exit in the history of Spanish startups and one of the largest in Europe.
Privalia raised between 2006 and 2013 some €200M in funding in several rounds and even considered going public, which never happened.
Among the venture capital firms that invested in Privalia and that now with the purchase by Vente-Privee have exited the company are Cabiedes & Partners, Caixa Capital Risc, Nauta Capital, Highland Capital Partners, SIndex Ventures, Sofina, Insight Venture Partners and General Atlantic.
Other Spanish online outlet operations
In addition to the sale of Privalia, the Spanish online outlet market had already seen a similar operation in 2010, when Amazon bought the Spanish company Privalia. BuyVip, which had the support of 3i, Grupo Intercom (creator of businesses such as Infojobs or Softonic), Debaeque, Active Venture Partners, Digital Assets Deployment (DAD) and Kennet Capital Partners.
Vente-privee goes shopping
In addition to Privalia, Vente-privee has also bought the Swiss company Eboutic.ch.
This company was co-founded in 2007 by Arthur Dauchez and Laure de Gennes, who remain minority shareholders of the Maüs Frères group.
For Jacques-Antoine Granjon, President and founder of vente-privee.com, "this new expansion reinforces the pursuit of our active development in Europe, initiated in 2015 with the acquisition of a majority stake in the Belgian company, vente-exclusive. We are very respectful of the work done by the founders and leaders of these companies and are very happy to be able to count on their support and expertise in the pursuit of our common European adventure".
In addition to the outlet business, Vente Privee has also carried out other mergers and acquisitions like Misterfly, Vente-Exclusive or the Parisian theatre Weezevent.
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