Announced
Completed
Financials
Tags
online real estate services
Private
Acquisition
Canada
Real Estate Services
Completed
Single Bidder
Majority
Friendly
Synopsis
Purplebricks Group, a British online estate agent, completed the acquisition of DuProprio/ComFree, which owns and operates a commission-free real estate services networks under two operational brands, DuProprio in French speaking Québec and ComFree in English, for $36.4m. "We are excited about working with DPCF's exceptionally strong management team to leverage the significant opportunities for growth in the Canadian market. Expanding the geographical footprint across Canada and building the company's buy-side offering provides the potential to transform the size of the DPCF business and consolidate its market leadership. This acquisition follows the £125m strategic investment by Axel Springer in Purplebricks for the aim of accelerating global growth. Through applying the appropriate funding and support we believe we can deliver real value enhancement for our shareholders," Michael Bruce, Purplebricks Global CEO.
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