This time online coup – XXXLutz throws out the fishing rod again

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The XXXLutz Group continues to grow at a rapid pace. Latest coup d’etat: Wels (Upper Austria) based furniture retailer plans to take over most of online retailer home24.

Now it’s hit and miss! A week after XXXLutz announced it would take over 50% of the southern German Braun Möbel-Center with ten branches and 1,000 employees, the Wels-based company once again took the reins. This time, the German online retailer home24 is struggling with the hook.

Once the deal is completed, the XXXLutz Group will own approximately 60% of home24’s future share capital. “In this way we considerably increase our robustness and effectiveness in the furniture market”, says home24 director Marc Appelhoff. With more than 370 furniture stores, XXXLutz is one of the largest furniture retailers in the world.

Source: Krone

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