Spanish Private-Sales Site Privalia Expands to Germany Via Acquisition
The online private-sales retailer Privalia, which operates in Spain, Italy, Brazil and Mexico, is buying Germany’s Dress for Less. Reuters said that according to its sources, Privalia paid between $210 million and $280 million. On Monday, Privalia raised roughly $123 million from private equity firms General Atlantic, Highland Capital Partners, Index Ventures and Insight Venture Partners to fund the transaction, which also included debt and shares. Together, Privalia is forecasting that they will achieve triple-digit revenue growth this year to around 400 million euros. In December, eBay purchased Germany-based brands4friends for $200 million.