SRP Group shares gain more than 10% on the Paris Stock Exchange.
The takeover of The Bradery, with a more premium, younger positioning, by Showroomprivé hailed on the stock market | Photo credits: Showroomprivé.com
SRP Group, owner of the Showroomprivé brand, the French number two in online private sales, gained more than 10% on the stock market this Wednesday. Investors welcome last night’s announcement of the acquisitionisition of 51% of the capital of The Bradery, specializing in the sale of high-end ready-to-wear, to younger customers (27 years old on average). This site, with a more premium positioning (the average basket is 100 euros), already brings together more than 200,000 regular buyers and more than 400 partner brands.
SRP Group also announced that it has an option to buy the remaining 49% by 2026.
The amount of the transaction has not been specified, we just know, according to the purchasing company, that it will be paid entirely in cash.
The Bradery realizes a gross merchandise value (GMV) of nearly 30 million euros (compared to 993 million for SRP). SRP aims to double the GMV of The Bradery in three years.
The takeover operation should be beneficial to the financial results of SRP Group by 2024. The company mentions the complementarity with the current offer and the possible synergies, particularly in terms of logistics.
The Bradery will continue to develop under its own brand with the current management team.
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