Second-hand chain Troc.com has been acquired by Happy Cash, a similar chain from France. The takeover should put Happy Cash in a stronger position internationally and digitally.
Towards an international strategy
French second-hand retailer Happy Cash just announced its acquisition of Troc.com, a competitor which is also active in Belgium. Exactly how much Happy Cash paid for this has not been revealed, but CEO Pascal Lebert has suggested it was less than 5 million euros.
The takeover of Troc.com doubles the formula's store network: like Troc.com, Happy Cash currently has about a hundred outlets in France, Belgium, Germany, Luxemburg and Spain. "Thanks to this takeover, we can focus on European expansion and the development of an international strategy," Lebert explained in Le Figaro.
To become Europe's number one in second-hand
The acquisition should put the second-hand group on the online map as well: Happy Cash is hoping to sell several million products every year and counting on an annual growth of 12%. "By positioning us as the market leader in second-hand products in Europe, we want to offer more services to our customers and anyone looking to buy or sell in an ecologically responsible way", Lebert added.
Today, Happy Cash has 600 employees. In 2018, the company generated a turnover of 65 million euros. Troc.com employs 500 people and achieved a 77 million-euro turnover last year.