METRO Markets to acquire trivago’s Palma development center

Rhea-AI Summary

trivago N.V. (NASDAQ: TRVG) announced the acquisition of its trivago subsidiary in Palma, Spain, by METRO Markets GmbH, a subsidiary of Metro AG, effective October 1st. This acquisition includes 100% of trivago Spain SLU and a development center with approximately 60 employees. The move aligns with trivago's strategy to consolidate operations at its Düsseldorf headquarters. METRO Markets aims to enhance its tech capabilities by integrating the experienced team in Palma, thereby expanding its footprint in the HoReCa online marketplace.

Positive

• Acquisition will streamline trivago's operations by consolidating teams in Düsseldorf.
• Integration with METRO Markets is anticipated to strengthen tech capabilities and enhance market presence.

Negative

• Potential job insecurities for employees in Palma amid the consolidation and integration process.

DÜSSELDORF, GERMANY July 24, 2020 – trivago N.V. (NASDAQ: TRVG) announced today that METRO Markets GmbH, a subsidiary of Metro AG (FWB: B4B), based in Düsseldorf, will acquire its trivago subsidiary in Palma, Spain.

METRO Markets is a B2B online market place offering a variety of non-food products for the hotel, restaurant and catering (HoReCa) industry. Under the terms of the deal, METRO Markets will acquire 100% of the shares in trivago Spain SLU and take over the development center in Palma with approximately 60 employees.

“Earlier in the year we decided to streamline our office setup and consolidate our teams in our Düsseldorf headquarters. We are very excited to have found an agreement with an innovative, like-minded company that allows our employees to continue to work as one team and remain in our offices in Palma.” said Axel Hefer, CEO, trivago.

“The acquisition of the development center in Palma is a unique opportunity for us to increase our footprint by adding an experienced team with a similar tech culture to ours,” added, Philipp Blome, CEO of METRO Markets.

The transaction will be effective October 1^st. Both parties will closely cooperate in the transition period to ensure a smooth handover.

About trivago

trivago is a leading global accommodation search platform focused on reshaping the way travelers search for and compare hotels and alternative accommodations. Incorporated in 2005 in Düsseldorf, Germany, the platform allows travelers to make informed decisions by providing them access to a deep supply of accommodation information and options from hundreds of websites. trivago enables its advertisers to grow their businesses by providing access to a broad audience of travelers via its websites and apps. As of March 31, 2020, trivago has established 54 localized platforms connected to over 4.5 million hotels and alternative accommodations, in over 190 countries.

About METRO Markets
METRO Markets GmbH is a wholly owned subsidiary of METRO AG, a leading international specialist for wholesale and food. METRO Markets is responsible for the development and operation of a B2B online marketplace especially designed for HoReCa customers (hotel, restaurant, catering). With the launch of the marketplace in summer 2019, wholesale specialist Metro has further expanded its digital offer for independent restaurateurs. Through this additional sales channel, METRO not only offers non-food products from its own assortment, but enables third party distributors to sell their product ranges. The METRO marketplace in Germany can be called up via the country-specific domain www.metro.de/marktplatz. Information on METRO markets as an employer can be found at www.metro-markets.de.

Forward looking statements
This press release contains certain forward-looking statements. Words, and variations of words such as "believe," "expect," "plan," "continue," "will," "should," and similar expressions are intended to identify our forward-looking statements. These forward-looking statements involve risks and uncertainties, many of which are beyond our control, and important factors that could cause actual events and results to differ materially from those in the forward-looking statements. For additional information factors that could affect our forward-looking statements, see our risk factors, as they may be amended from time to time, set forth in our public filings with the Securities and Exchange Commission. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.

Media Contacts
Stephanie Lowenthal
stephanie.lowenthal@trivago.com

METRO AG
Hülya Dagli
huelya.dalgi@metro.de
+49 (211) 6886-1047

FAQ

What is the significance of the acquisition of trivago Spain by METRO Markets?

This acquisition allows METRO Markets to expand its tech capabilities and enhance its online marketplace for the HoReCa industry.

When will the acquisition of trivago Spain be effective?

The acquisition will be effective on October 1st.

How many employees are involved in the trivago Spain acquisition?

Approximately 60 employees from the development center in Palma will be involved.

What are the implications of the acquisition for trivago's operations?

The acquisition will help trivago streamline its operations by consolidating teams, focusing resources in its Düsseldorf headquarters.

What is the role of METRO Markets in this acquisition?

METRO Markets aims to enhance its presence in the HoReCa marketplace by integrating trivago's experienced team.