Advertisement
Canada markets closed

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7297
    -0.0023 (-0.32%)
     

  • CRUDE OIL

    82.79
    -0.02 (-0.02%)
     

  • Bitcoin CAD

    87,792.88
    -3,095.73 (-3.41%)
     

  • CMC Crypto 200

    1,386.66
    -37.44 (-2.63%)
     

  • GOLD FUTURES

    2,329.20
    -9.20 (-0.39%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • NASDAQ futures

    17,470.75
    -193.75 (-1.10%)
     

  • VOLATILITY

    15.97
    +0.28 (+1.78%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

  • CAD/EUR

    0.6818
    -0.0018 (-0.26%)
     

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)