Public listed Delticom AG has agreed with the shareholders of Tirendo Holding GmbH to purchase all shares in the Berlin-based online tyre retailer and its subsidiaries. The purchase price, including acquired shareholder loans, amounts to around EUR 50 million.
In Tirendo, Delticom is acquiring a rapidly growing company with complementary strengths in IT and marketing. For Tirendo, Delticom is an experienced, well-funded partner which excels in the areas of procurement and logistics.
In many European countries, the share of tyres sold online is still relatively low compared to other product categories. Buying online offers many advantages including fast delivery times, a broad selection of products, even at peak times, and attractive prices. As a first-mover, Delticom opened ReifenDirekt.de, one of Germany’s first online tyre shops, as early as 2000. With more than 6 million customers in 42 countries and an annual turnover of around EUR 500 million, the company is the market leader in European online tyre sales.
Tirendo was founded in October 2011 by European Media Holding and launched the tyre portal Tirendo.de in Germany in March 2012. Seed-funded and operationally supported during its ramp-up phase by Project A Ventures, Tirendo has quickly established itself in the market through innovation in IT, marketing and branding. The emerging e-commerce company is now active in eight European countries and, for its second year of business, expects turnover in the mid-double-digit million euro range. Tirendo is well-known not least thanks to Sebastian Vettel. The three-time Formula One world champion will continue in his role as the exclusive brand ambassador.
In 2013, the firm was awarded Boutique Investment Bank of the Year and Leading Advisers of the Year by the International Acquisition M&A Awards.
For enquiries contact: Cecilia Roman, [email protected] www.gpbullhound.com