MILAN — Household goods retailer Conforama Group, which is controlled by Steinhoff Group, has completed on Thursday the acquisition of a 17 percent stake in Showroomprivé. The French online flash-sales specialist is listed on Paris’ Euronext market.
The transaction was signed between Showroomprivé founders, David Dayan and Thierry Petit, and Conforama through an off-market transfer of shares for a total value of 157.5 million euros.
Following the deal, Dayan and Petit retain a 27.17 percent share in the company.
Conforama chief executive officer Alexandre Nodale will join Showroomprivé’s board.
According to a press statement, the join venture of the two companies will maximize their presence on both the brick-and-mortar and online channel.
Last November, Showroomprivé acquired 100 percent of Saldi Privati, one of Italy’s leaders in online private sales, from Italian e-commerce service provider Banzai. The operation was valued at 28 million euros.