The Global Savings Group (GSG), a European shopping rewards company, and Shoop Germany GmbH (Shoop), operator of a German cashback platform shoop.de, have reached an agreement under which the GSG will acquire Shoop Germany GmbH.
“The deal strengthens GSG’s position as European market leader, building the largest global digital rewards, savings, and shopping content platform,” says Gerhard Trautmann, CEO of the GSG.
“Following the acquisition of the leading French Cashback Company iGraal in March 2020, GSG’s primary goal is to empower consumers globally in making smarter shopping decisions through our comprehensive portfolio of consumer engagement platforms and solutions.”
David Kuczek, general partner at HV Capital said: “After the successful acquisition of iGraal in March 2020 and with the recent acquisition of Shoop, GSG has now also become the clear continental European leader in the growing shopping rewards space. I’m excited to continue working with the team on their journey as GSG is consolidating and transforming this industry in Europe that is undergoing a lot of change also in the US, as seen by the acquisition of players such as Honey through Paypal. I’m convinced that GSG is in a prime position of building a truly unique digital European Champion in this space.”