Zalando is acquiring About You to expand its European ecommerce reach.
- The offer values About You at €1.1 billion, with a 12% premium per share.
- Major shareholders, holding 73%, have committed to the sale.
- Management of About You supports shareholder acceptance of the offer.
- The deal combines Zalando’s and About You’s B2C and B2B strengths.
Zalando is acquiring About You for €1.1 billion in a strategic move to enhance its European ecommerce platform. By offering €6.50 per share, Zalando provides a notable 12% premium above the current stock price, underscoring its commitment to this significant investment.
Zalando has secured agreements from major shareholders of About You, including Otto Group, Otto Family, and Heartland. These shareholders represent a commanding 73% of About You’s share capital, indicating overwhelming support for the sale.
The endorsement extends beyond major shareholders, as About You’s management and supervisory board have signalled their intent to encourage other shareholders to accept the offer. This unified support enhances the deal’s feasibility and future success.
Zalando’s co-founder and co-CEO, Robert Gentz, highlighted the ambition behind this acquisition: ‘Redefining fashion and lifestyle shopping by creating the best possible experience for customers and partners has always driven both our teams.’
Tarek Müller, About You’s co-founder, echoed this sentiment: ‘This transaction creates something truly unique, with two distinct and independent B2C businesses serving the specific needs of their customers.’ He also noted the potential to integrate their B2B operations for an optimised client offering across logistics, software, and services.
The acquisition is poised to reshape the European ecommerce fashion landscape through strategic alignment and combined strengths.
