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Berlin Brands Group raises $240 million in debt for e-commerce deals

Reuters
·1-min read

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)

(Reporting by Nadine Schimroszik, Writing by Douglas Busvine; Editing by Susan Fenton)