Brussels, 17 April 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of home24 SE of Germany by XXXLutz, jointly controlled by LSW GmbH and SGW-Immo GmbH, all of Austria.
home24 is an online store active in the retail sector of furniture, home furnishings and household goods in continental Europe and Brazil. XXXLutz is a furniture retailer. LSW and SGW-Immo are both active in the retail sale of furniture, lighting equipment and other household articles in specialised stores in many EU Member States.
During its investigation, the Commission carefully assessed the concerns expressed by a number of furniture producers and retailers related to the likely significant market position held by XXXLutz and various other furniture retailers controlled by the same parent companies in both the procurement and retail markets for furniture. However, the Commission ultimately concluded that the proposed acquisition would raise no competition concerns, given the limited increase in the market share of the merging companies and the presence of other alternative players in the procurement and retail sale of furniture. The transaction was examined under the normal merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.10969.
Source – EU Commission