Septentrion Finance has advised Drawer on But’s capital increase
06/04/2022
BUT, the leading home furnishing network in France, has acquired DRAWER, an online distributor of design furniture and decorative objects.
Based in Lille, DRAWER is a pure player and a Digital Native Vertical Brand (DNVB) founded in 2011 by Valérie and Guillaume Spriet. Both passionate about design and travel, they had the idea to sell online the furniture and decorative items they discovered during their journeys.
The brand offers a rich and diverse collection with beautiful pieces sourced directly from manufacturers and artisans around the world. In total, DRAWER offers over 5,000 references.
As part of its digitalization and modernization strategy, BUT, a leading name in French furniture retail, has acquired a majority stake (70%) in DRAWER, one of the main French pure players in online distribution of contemporary, design, and affordable furniture.
This acquisition marks a new milestone in the retailer’s development, which has built its success over 50 years on proximity, advice, and human connection.
“The investment in DRAWER plays an important role in accelerating our digital transformation and aligns with our omnichannel deployment strategy. BUT and DRAWER are two highly complementary brands. Our plan is to help DRAWER accelerate its growth by collaborating on product offerings, marketing, and logistics,” explains Alexandre Falck, CEO of BUT.
The founding leaders, Valérie and Guillaume Spriet, will continue to lead DRAWER with the existing teams.
The transaction became effective on April 6, 2022.
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Sell-side advisors:
- M&A: Septentrion Finance (Damien Barenne, Maximilien Clochette, Laurine Philbert)
- Legal: Bignon Lebray (Tanguy Dubly, François Vibert)
Buy-side advisors:
- Financial Due diligences: KPMG (Antoine Bernabeu, Thomas Camusard)
- M&A: Croissance Partenaires (François Ménager, Quentin Darras, Richard Thian-Meng)
- Legal: Fidal (Raphaël Teyssot, Stéphane Déjumné)