Vente-Privee, the European leader in flash sales, has bought a majority stake of 50.1 percent in rival flash sales site Vente-exclusive, which is established in Belgium, the Netherlands and Luxembourg.
The Belgium shareholders will retain 49.9 percent and will merge its management team into Vente-Privee’s, with both companies speaking of a “strategic alliance” which will see the flash sales site continuing as a separate business.
Vente-exclusive.com was founded in 2006 by Belgian entrepreneurs Léon Seynave and Stefan Tournoy and is managed by Peter Grypdonck.
Commenting on the deal, Jacques-Antoine Granjon, chief executive and founder of French flash Sales site Vente-Privee, said: "It fits perfectly with our long-term vision, for we want to further expand our operations in Northern Europe, both organically and through external growth.
“This partnership is a real adventure between people and teams: we can exchange our respective knowledge and experience to further improve our quality and provide an even better offering to our members.
Granjon added: “This new phase marks our active expansion in Europe.”