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NEWS
XXXLutz
announces takeover bid for Home24
The Austrian furniture retail group XXXLutz (370 furniture stores in Eu- rope) 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 Home24 sharehold- ers to acquire all outstanding shares of Home24 SE. 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.
Poco: Prototype with a new concept
Poco wants to go beyond discount with a new concept in Pforzheim, Germany. The furniture discounter has invested 4 million euros to turn its 15-year-old store into a prototype for a new concept. The aim is to at- tract new target groups through a higher-quality ap- pearance.
“Pforzheim is the first location where we have ful- ly implemented the concept,” says Sales Director South Volker Matze. “Our aim is to attract more peo- ple to us, beyond our discount customers, through a more appealing appearance.” Because especially at
In a Business Combination Agreement signed on 5 October 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 par- ticular to further strengthen and expand Home24’s market position as a pure-play home & living e-commerce destination. Completion of the deal will be subject to customary antitrust clearances and the fulfilment of other standard closing con- ditions.
the current time, when energy prices, among oth- er things, are rising sharply, higher-income target groups also need to save, and are therefore eyeing discounters like Poco.
The new concept essentially includes indoor and out- door colours, flooring, lighting and product range presentation. In Pforzheim, there is no longer a trace of the familiar gaudy red Poco is known for. Instead, ruby red is combined with anthracite. The new col- ours not only decorate the exterior façade of the store, but are also taken up again inside.
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PHOTOS: POCO