EQS-News

home24 SE: home24 supports XXXLutz takeover bid - new investor subscribes to 10% capital increase - the new partnership strengthens market position and growth prospects for both companies - Seite 2

The acquisition is intended to provide long-term, strategic and sustainable financial support for home24's growth strategy. It shall to further strengthen and help expand home24's market position as a pure-play home & living e-commerce destination. To achieve this, it is XXXLutz's wish that home24 continues to be managed independently by the current management team. The three members of the Management Board of home24, Philipp Steinhäuser, Brigitte Wittekind and Marc Appelhoff, extended their Management Board contracts yesterday and reaffirmed their support for this transaction.        

In addition, the company's headquarters will remain in Berlin. The existing corporate structure and the main locations of the home24 Group as well as the core brands of the home24 Group, including home24 and Butlers, will be retained as independent brands. Against this background, the Management Board and the Supervisory Board of the Company welcome the Offer and plan to support it subject to their duties of care and their fiduciary duties and the review of the offer document to be published by the Bidder. They consider it to be in the best interest of the Company, its shareholders, employees and other stakeholders at this point in time.

Additionally, XXXLutz subscribes to a 10% capital increase at a share price of 7.50 euros. The company expects proceeds of around 23 million euros.

"We are delighted to continue our journey to become the leading online destination for Home & Living together with XXXLutz as a strong partner. For us as a management team, it was particularly important that XXXLutz shares and actively supports the vision of home24, assists us in its implementation and sees us continuing to operate as an independent company. We are convinced that together with XXXLutz we will significantly increase our robustness and punch in the furniture market," said Marc Appelhoff, CEO of home24. "The fact that we were able to attract a strong strategically oriented investor for home24 in times of global political tensions and depressed consumer sentiment is a vote of confidence in our business model. We are convinced that we have found a very good path for our employees as well as for shareholders and other stakeholders."