GCA becomes part of Houlihan Lokey


Transaction Details

September 30, 2020


Consumer / Retail / E-commerce / Leisure, E-commerce

Deal Type

Mergers and Acquisitions

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GCA Advises SCP Group on the Sale of Real’s Digital Business to Schwarz Gruppe

GCA has acted as exclusive financial advisor to SCP Group on the sale of the digital business of Real, including the online marketplace real.de, to Schwarz Gruppe, a private German retail group that owns and operates the Lidl and Kaufland brands.

The company, which operates under the name Real.digital, was founded in 2006 and originally known as Hitmeister. It was acquired by Real, a subsidiary of leading German food wholesaler and distributor Metro, in 2016. In February 2020, investment firm SCP Group entered into an agreement with Metro to acquire Real but decided to divest its digital business.

Real.digital is a leading generalist e-commerce player in Germany that combines direct sales with an asset-light marketplace model. Real.de, Real.digital’s primary platform, is the third largest online marketplace in Germany by traffic, after Amazon and eBay. Through its marketplace, Real.digital sells more than 15 million products from over 4,500 merchants across 5,000 categories, including electronics, kitchen and household, garden and DIY.

The SCP Group is an investment firm targeting scalable asset-heavy opportunities in Europe, with a strong focus on retail and commercial real estate. With the sale of Real’s digital business, SCP Group has taken an important step in implementing its vision for Real.

All parties have agreed not to disclose any details of the transaction, and the sale is subject to antitrust approval and the completion of the acquisition of Real by SCP Group.

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