This week food retailer Royal Ahold NV announced that it will acquire bol.com for EUR350 million, according to the WSJ. The transaction is meant to broaden Ahold’s product offering, to include books, TVs and dishwashers. Ahold also owns online grocery stores in the US and Netherlands, namely Peapod.com and Albert.nl.
The sellers of bol.com are two PE companies, Cyrte Investments, a PE investor originally funded by Dutch media entrepreneur John De Mol, and NPM Capital. The WSJ says Ahold hopes to triple sales from its web holdings by 2015.The WSJ says Ahold hopes to triple sales from its web holdings by 2015.
Just to put this transaction in context, it is a fairly large sized one considering that M&A activity in 2011 was USD 1.858 billion in total, according to Internet Dealbook’s recently published Annual Review of Global Internet Investments and Transactions.
Meanwhile in India, the ecommerce sector is reportedly ripe for consolidation as the competition for the country’s 10 million online shoppers increases. VC-backed ventures vie customers with major league incomers, such as Amazon, reports The Times of Inida.