Social Chain makes “important acquisition” of German firm and raises revenue expectations to €620m in 2021
Social Chain has announced it has acquired German business DS Group and raised its revenue forecast to €620m by the end of 2021.
The group, founded in 2014 in Manchester by Steve Bartlett and Dominic McGregor, has acquired 100% of DS Group for the sum of €250.5m split between cash and share components.
Social Chain said the deal is the “most important acquisition since its foundation” and is also targeting €1bn revenue by the end of 2023 financial year. The German firm has a total of 550 employees and the number of Social Chain AG employees is set to increase to more than 1,400.
DS Group, known for brands including Landmann, develops, markets and sells its own products and brands and is expecting its revenues to exceed €270m in 2021.
Social Chain CEO, Wanja S. Oberhof, said: "Social Chain and DS Group complement each other perfectly: DS Group's extensive brand and product portfolio is perfectly suited for direct marketing to end consumers via Social Commerce."
Oberhof added: "With the acquisition of DS Group, we are building a Social Commerce platform on an international scale. We will grow considerably in Europe and in the US. DS Group’s extensive brand and product portfolio is perfectly suited for direct marketing to end consumers via Social Commerce. At the same time, the diverse distribution channels of DS Group strengthen the marketing opportunities of the existing Social Chain proprietary brands.”
Ralf Dümmel, Managing Partner of DS Group, said: “For DS Group, the deal is a step into the future. We are excited that we are adding new strengths to our distinctive retail expertise.