PARIS — French flash sale pioneer Vente-Privée.com said it has taken a majority stake in Vente-Exclusive.com, the leading online event sales company in the Benelux region, as it seeks to develop its business in Northern Europe following the failure of a U.S. joint venture with American Express.
Vente-Privée did not disclose terms of the acquisition, but said the management team of Vente-Exclusive, founded in 2006 by Belgian entrepreneurs Léon Seynave and Stefan Tournoy and managed by Peter Grypdonck, would remain on board.
Jacques-Antoine Granjon, founder and chief executive officer of Vente-Privée, said the deal fits into the company’s long-term vision.
“This acquisition is a doorway to Northern Europe. We are very respectful of the work that the founders and managers of the Web site have achieved and are very happy to be able to count on their expertise in the pursuit of our European adventure,” he said in a statement.
Seynave and Tournoy said: “This alliance with the leader of the European market will enable us to accelerate our growth and enlarge our offer into other sectors, from which our members will greatly benefit.”
Launched in 2001, Vente-Privée partners with more than 2,600 brands in sectors including ready-to-wear, fashion accessories, homewares, toys, sports equipment, electronics, fine food, wine, theater tickets and holidays, logging a turnover of 1.7 billion euros, or $2.26 billion, in 2014.