9th May 2022 12:04
(Alliance News) - Made.com Group PLC on Monday unveiled the acquisition of London-headquartered retailing platform, Trouva.
The acquisition will enable furniture retailer Made to avoid some anticipated spending, it said, as it will be able to "efficiently" scale its marketplace offering. It plans to integrate Trouva's marketplace technology into its own.
Trouva is a marketplace for homewares, lifestyle and fashion products.
Total cashflow on the combined acquisition consideration and capital expenditure is now expected to be GBP13 million to GBP18 million for 2022, compared to previous guidance of GBP15 million to GBP20 million.
No other financial details were disclosed, though Made said it would be buy Trouva in cash.
Trouva currently generates a loss, but Made expects the combined group to "leverage scale and marketing efficiency and expertise" to improve Trouva's performance.
Chief Executive Nicola Thompson said: "This acquisition will allow us to significantly accelerate our growth strategy by expanding our curated product range - giving our customers more choice and newness - and scaling the business in key territories both established and targeted by leveraging Trouva's exceptional cross-border technology."
Made.com was trading 1.4% higher in London on Monday around midday at 56.40 pence.
By Sophie Rose; [email protected]
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