Komplett acquires German retailer Comtech
Komplett, a Norwegian ecommerce company active in Scandinavia, has acquired the majority of shares in online retailer Comtech. With the acquisition, Komplett will now – again – be active on the German market.
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Comtech.de will keep operating under its own name and will continue to exist as an independent subsidiary of The Komplett Group.
“Germany is an exciting ecommerce market”
“After a strong growth of over 23% in 2014, the next big step for us now is to prepare the company for further growth in the areas of purchasing, logistics and IT, as well as expanding our range of products and our offerings to customers”, Ralf Kern, CEO of Comtech said. Ole Vinje, CEO of Complete Group, added: “We look forward to working with Comtech. Germany is an exciting and new market for us. Together we will ensure further growth in the coming years.”
With a total of 14 online stores and reporting revenues of 675.5 million euros in 2014, The Komplett Group is the largest ecommerce player in the Nordic countries. The acquisition of Comtech can be seen as another attempt of The Komplett Group to be active outside of Scandinavia.
Until 2008, Komplett had online stores in France, Germany, the UK and Austria, but shut these down. The reason was “because those markets were undersized and Komplett had struggled to establish a large enough footprint in those territories.”