IMPROVED advises Ceconomy on the Sale of iBood
- Date September 2nd, 2019
- Transaction type M&A
- Sector Technology
- Sub Sector E-Commerce
The management team of iBOOD and Dutch technology investor Walvis, have announced the management buy-out of iBOOD.com from Ceconomy. iBOOD is Europe’s leading e-commerce platform offering online daily premium deals in product verticals such as electronics, home & living, sports & fashion and Do-It-Yourself.
IMPROVED acted as the exclusive financial advisor to the selling shareholders Ceconomy AG and MediaMarktSaturn Retail Group in this transaction and supported the management team of iBOOD in finding the financial investor to realise its growth ambitions.
Ceconomy AG and its majority shareholding MediaMarktSaturn Retail Group, first invested in iBOOD in 2013. However, in course of their efficiency program, the companies announced end of April 2019 to review their investment portfolios and decided later to initiate the sale of iBOOD.
“Under the wings of MediaMarktSaturn, iBOOD changed into a much more professional organization which is ready to accelerate growth. The new partnership with Walvis allows iBOOD to bring back focus on the iBOOD brand and further increase the entrepreneurial spirit to fulfil its ambitions to establish the best premium daily deal platform."
CEO & founder, iBOOD
“iBOOD has a strong track record, loyal customer base and is well positioned to benefit from the growing European e-commerce market. We see great potential in iBOOD and are looking forward to bringing iBOOD to the next phase together with management."
Managing Director, Walvis
“Following the strategic decision to divest iBOOD by the MediaMarktSaturn Group and Ceconomy AG, we were able to find the best possible growth partner for the management team of iBOOD to realise their ambitions. Teaming up with Walvis sets iBOOD in a strong position for the accelerating e-commerce market in Europe."
Managing Director, IMPROVED