Berlin Brands Group raises $240 mln in debt for e-commerce deals
BERLIN, April 13 (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 (AMZN.O) 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)
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