Clipperton is pleased to announce it acted as sole financial advisor to Carrefour and Rue du Commerce on the sale of Rue du Commerce to Shopinvest and the sale of Topachat to Groupe LDLC.
- Founded 20 years ago, Rue du Commerce and Topachat pioneered the French e-Commerce market for high-tech products
- The two transactions are in line with Carrefour’s strategy to disengage from non-food e-Commerce and allow Rue du Commerce and Topachat to leverage their well-established brand under new ownership
- The deal highlights Clipperton’s ability to advise large corporate clients on structuring complex transactions with carve-out considerations, and further illustrates its expertise in the e-Commerce space
The client
Founded in 1999, Rue du Commerce is amongst the first and best-known e-Commerce brands in France. The company specializes in the online sale of high-tech products including smartphones, computers and TVs. Rue du Commerce has approximately 350 employees, and claims over two million orders per year are placed on its website, which features over seven million consumer electronics and household products from 1,500 vendors.
Having acquired the company to support its omnichannel development, Carrefour had decided to divest it as part of its broader e-Commerce strategy focused exclusively on food. Following the operation, Rue du Commerce will be joining Shopinvest, an e-commerce group founded in 2011, which operates a portfolio of 11 specialized e-commerce sites dedicated to home, fashion and cosmetics. Shopinvest has grown through the creation of websites such as MenCorner, the acquisition of specialized websites like LemonCurve and the purchase of iconic brands, such as 3 SUISSES in November 2018.
In parallel, the business operations and employees of Topachat will be transferred by Rue du Commerce to Groupe LDLC. Also founded in 1999 and bought by Rue du Commerce in 2009, Topachat has become a recognised expert in the online sale and assembly of high-end PCs and components. The website generated 85 million euros in revenue in 2018, growing 10% annually. The transaction will allow LDLC to further strengthen its position in the market following the acquisition of Topachat’s competitor Materiel.net in 2016.
Both transactions remain subject to the approval by the employee representatives of Rue de Commerce, antitrust approval, and other customary terms and conditions.
Deal team
- Nicolas von Bülow, Managing Partner, nvonbulow@clipperton.net
- Thibaut Revel, Managing Partner, trevel@clipperton.net
- Baptiste Clair, Director, bclair@clipperton.net
- Thomas Noslier, Analyst, tnoslier@clipperton.net
- Eloi Verspieren, Analyst, everspieren@clipperton.net
About Clipperton
Clipperton is a European M&A and corporate finance advisory firm exclusively dedicated to the Technology space, advising high growth companies on M&A transactions, debt financings and equity offerings, with offices in London, Berlin, Munich and Paris as well as an international reach. Over the past 17 years, the team has successfully completed more than 300 high profile transactions globally.