Arvato corporate tower at the headquarters in Gütersloh, Germany
13 Jan. 2014
Arvato aquires e-fashion service provider Netrada
International service provider Arvato (part of the Bertelsmann Group) plans to acquire major parts of Hanover-based Netrada Group, a leading e-commerce and logistics provider of the fashion industry with clients such as Esprit and C&A. Netrada Europe GmbH fell into financial difficulties recently and had to file for the initiation of insolvency proceedings in October 2013. The transaction is yet to be approved by the respective competition authorities.
With the merger, Arvato hopes to profit particularly from Netrada’s strong position in the fashion and lifestyle segment. The companies’ combined business activities will generate a combined turnover of over EUR 300 million. This transaction represents Arvato's second major expansion step after last year's takeover of international financial services provider Gothia.
Frank Schirrmeister, Divisional Head of Arvato Supply Chain Management: "Once the competition authorities have approved the transaction, Arvato and Netrada will work closely together on the development of the best possible structure to allow extensive cooperation between the units involved. Our aim is clear: We intend to systematically utilize the dynamic market growth in the fashion ecommerce area in order to extensively expand the joint activities. In this respect, we are relying on the staff's expertise. In the course of the imminent integration process, we will therefore do everything in our power to ensure that their jobs are safe and that current locations are retained."
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