Berlin Brands Group raises $240 million in debt for e-commerce deals
BERLIN (Reuters) – German e-commerce company Berlin Brands Group (BBG) said on Tuesday it had raised $240 million in debt financing to support the expansion of its direct-to-consumer brand portfolio, which it markets via Amazon and other channels.
BBG will invest the funds raised in acquiring online retail brands and integrating them into its global platform, with a particular focus on U.S.-based brands that generate revenues of $1 million to $100 million a year, it said in a statement.
Unicredit, Deutsche Bank and Commerzbank were part of the banking consortium that extended the loan.
BBG, which turned over 334 million euros ($398 million) last year, runs its own logistics infrastructure and operates 1.3 million square feet (120,000 square metres) of warehouse space in Europe, Asia and the United States.
($1 = 0.8395 euros)
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