Toulouse-based Bricoprivé, an ecommerce company that sells DIY, gardening, and home improvement products, has acquired another French ecommerce company, Racetools, which specialises in tools and hardware. The amount of the transaction was not disclosed.
"Bricoprivé's infrastructure and expertise in logistics will allow us to accelerate our growth and strengthen our offering of products and services," said Nicolas Leron, founder of Racetools, as reported by Journal Du Net.
The deal is part of Bricoprivé's efforts to accelerate its external growth strategy. Through Racetools, Bricoprivé plans to expand in the Spanish and Italian markets. Bricoprivé is also aiming for a turnover of €100 million in 2018, and the acquisition of Racetools will allow the company to reach this goal as much as a year earlier than planned, said Marc Leverger, the company's co-founder. The companies are expected to complement each other in logistics and marketing.
Read more: Journal Du Net (French)