Milan, Italy, (25 November, 2021): MBE Worldwide (“MBE”) is pleased to announce the full acquisition of PrestaShop, a leading e-commerce platform in Europe and Latin America.
MBE enables people and entrepreneurs to succeed in growing their business through a platform of digital-ready shipping, fulfilment, print and marketing solutions. In 2020, MBE served over 700,000 business customers worldwide through a global network of 2,800+ service centres in 53 countries with system-wide sales exceeding US$ 1 billion.
PrestaShop allows any merchant to utilise its e-commerce channel anywhere in the world, benefiting from a platform fully customisable and adaptable to each market. In 2020, more than 300,000 merchants generated over €22 billion in sales via PrestaShop’s e-commerce platform and services.
A strong set of common core values – passion, tenacity, ambition, team spirit and innovation – underlies the strategic motivation for MBE’s acquisition of PrestaShop.
These attributes support the two companies’ common vision originating from the merging of respective strengths, the digital e-commerce and physical location-based platforms, complementing each other’s offer within the same global commerce value chain. The result will allow a fully integrated, seamless customer experience to enable enterprises to realize significant growth potential.
MBE and PrestaShop both focus on one primary strategic customer segment, SMEs. The joined forces will mean significant growth potential in their core geographical strongholds and common base of 600,000+ customers in Europe (primarily Italy, France, Spain, Germany, the UK and Poland) and over 1 million worldwide.
“PrestaShop and its people are a great addition to MBE. By combining “atoms and bits” we will further differentiate our unique positioning in the market thus enabling MBE to become one of the leading global e-commerce and logistics platforms for businesses.” said Paolo Fiorelli, Chairman and CEO – MBE Worldwide.
“ Joining MBE is an opportunity for PrestaShop to accelerate its growth with the support of a leading industry player that will enable us to further our position of leadership in Europe and Latin America, conquer new customers and provide a fully integrated best-in-class offering to our clients. The complementarity of both our offers will enable us to become the leading global commerce platform for business growth.” said Alexandre Eruimy, Managing Director – PrestaShop, who will continue his leadership role managing the PrestaShop Team and business.
MBE has been advised by Intesa Sanpaolo – IMI Corporate & Investment Banking Division – and Banco BPM as mandated lead arrangers, bookrunners and underwriters in the financing transaction to support the acquisition, by PwC for the financial, legal, tax and HR due diligence and by Sidley Austin LLC, Gide Loyrette Nouel and Chiomenti as legal advisors.
PrestaShop and its shareholders have been advised by Lincoln International as investment bank, EY Strategy and Transactions for the Vendor Due Diligence, Jones Day and Volt Associés as legal advisors to the transaction.