The Platform Group is looking for more acquisitions
The Platform Group has become the sole owner of Möbelfirst, an online provider of luxury furniture in Germany and surrounding countries. The group remains on a takeover path, with up to eight more acquisitions in the coming year.
This is mentioned in a press release about the complete integration of Möbelfirst, of which The Platform Group (TPG) already had 50.1 percent of the shares. TPG has been the majority shareholder in Möbelfirst since 2021. The acquired company expanded a platform strategy using TPG’s software solutions. More than 500 partners in the furniture retail sector are now connected to the platform, and this number is expected to grow significantly in the coming years.
Over 500 partners are connected to Möbelfirst
“Möbelfirst has developed very well as a platform, has always been profitable, and its shopping baskets now average 4,100 euros – this is unique in the furniture industry”, comments Dominik Benner, TPG’s CEO. “We are pleased to now increase our stake to 100 percent and to consistently pursue our profitable growth strategy.”
Merger with Fashionette
The Platform Group had a tumultuous year, merging with industry peer Fashionette, also from Germany. It was recently announced that the group has found a buyer (again from Germany) for its beauty and smartphones divisions, which was the intention during the merger.
2023 was a turbulent year for TPG
While specialized marketplaces are gaining ground in Europe especially, TPG is active in 18 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as furniture, cars, luxury and machinery. The group has 14 locations across Europe with 680 employees. Over 20 investments and company acquisitions have been made since 2020.
Between three and eight acquisitions
For 2024, TPG is actively looking for new takeovers, it states. “The coming year, The Platform Group AG plans to continue its successful acquisition strategy and acquire between three and eight further companies, both in the B2B and B2C sectors.”