Ljubljana – Mimovrste, Slovenia’s largest online retailer, has been acquired by Polish shopping platform Allegro. The latter bought Mall Group, which owns Mimovrste and WE/DO, from PPF, EC Investments and Rockaway Capital on Thursday. The deal is worth EUR 881 million, with an adjustment of EUR 44 million for debt and other items.
Mimovrste said in a press release that the planned merger of Allegro, Mall Group and WE|DO would strengthen its status of a leading online market place and a platform for buyers and retailers in Central and Eastern Europe.
In Poland, Slovenia and other countries of Central and Eastern Europe, the merged group of 135,000 retailers will operate under the principle “publish once – sell everywhere”, which means it will have access to a EUR 250 billion retail market with 70 million people.
Mimovrste is confident that the deal will also improve the shopping experience for its 18-million member base in the region.
The Mimovrste team currently consists of 7,200 staff members sharing a “joint culture”, which focusses on consumers and innovation, and the merger opens new career options for the team in an international working environment, the company said.
The transaction, which still needs to be approved by regulators, is to be concluded in the second half of 2020.
Allegro is the most popular Polish online e-commerce platform and the biggest retailer of non-food products in Poland. It has been listed among the ten best e-commerce platforms in the world and it ranks among the 100 most visited sites in the world.