XXXLutz announces takeover bid for Home24

The Austrian furniture retail group XXXLutz (370 furniture stores in Europe) is continuing its expansion. The focus is now on online retailing and so the XXXLutz Group has now published its decision to make a voluntary public takeover offer to acquire all outstanding shares in Home24 SE to all shareholders of Home24. XXXLutz will offer the shareholders of Home24 a purchase price of EUR 7.50 per share. Home24 is a leading e-commerce platform in the home & living sector and is listed on the Prime Standard of the Frankfurt Stock Exchange.

In a Business Combination Agreement signed on October 5th, 2022, XXXLutz and Home24 have agreed on the key points for the future cooperation between the two companies. The agreement states that XXXLutz plans to provide long-term, strategic and financial support for Home24's growth strategy and, in particular, to further strengthen and expand Home24's market position as a pure-play home & living e-commerce destination. The completion of the offer will be subject to customary antitrust clearances and the fulfilment of other customary closing conditions.

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