A couple of weeks ago I wrote about the possibility of Paris-based Vente-Privee acquiring Privalia, one of the largest Spanish players in the e-commerce space.
Well, it seems that the acquisition is in fact taking place and will soon be announced by both companies. A couple of sources have told me that Vente-Privee’s employees were informed about the acquisition today, and the same will soon happen at Privalia’s headquarters in Barcelona.
No word about the price, but previous rumours said Vente-Privee would pay up to €500 million for Privalia. In any case, and even if the acquisition ends up being smaller than that, it could become one of the larger exits of the Spanish tech ecosystem in recent years, and the largest by a local non-telco company to date.
Privalia had sales of €415 million in 2014 with an EBITDA of just 4%. Vente-privee’s sales in 2014 reached €1.7 billion.
Privalia has raised more than €200 million from multiple European, American and Spanish investors, including Caixa Capital Risc, Nauta Capital, Highland Capital Partners, Index Ventures, Sofina, Insight Venture Partners and General Atlantic.