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Sale of LightOnline to Keria Groupe

Paris (France), February 8th, 2022,

Following the sell-side process exclusively advised by Financière de Courcelles, Adeo Group (the parent company of Leroy Merlin) has sold its subsidiary LightOnline to Keria Group.
Adeo Group and Leroy Merlin will continue to focus on the growth of the Housing Platform France and the implementation of a market-leading omnichannel model.
Founded in 2009, LightOnline is a Parisian start-up and a pure player in design. It has become one of the leading e-commerce websites and has established itself as THE reference for premium lighting in France. LightOnline has succeeded in combining digital technology and light through a differentiating and innovative customer experience that makes LightOnline much more than a digital marketplace.
LightOnline now offers more than 250 brands and 12,000 references from leading brands in design to new brands: Kartell, Foscarini, Maison Sarah Lavoine, Tom Dixon, Fermob, Martinelli Luce, Flos, Fritz Hansen, Artemide, Vitra …
The company has enjoyed an average annual growth of 30% for the last 4 years, thanks to its product strategy and its digital expertise. Leveraging on the reputation of its B2C e-commerce website, the partnership with Leroy Merlin stores (through 60 corners) which will remain beyond the sale, and the development of the B2B segment, LightOnline will continue its strong development in the forthcoming years, strengthened by its new shareholder, Keria Group.
Created in 1982, Keria Group is specialized in the lighting industry. In October 2020, the Group acquired 100% of the capital of the pure player “Luminaires-online” to reinforce its presence on this specific distribution channel. Through the acquisition of LightOnline, the Keria Group, owner of Keria and Laurie Lumière as well as Luminaires-online, is accelerating its omnichannel distribution strategy by also strengthening its position on the premium segment.

Marc Delozanne, Deputy CEO of Leroy Merlin France:

« The support of Financière de Courcelles was decisive to define the most relevant ownership for LightOnline. Throughout the process, Financière de Courcelles’ teams have shown a remarkable commitment to the transaction and the company’s interests».

Claire Lestoille, CEO of LightOnline:

« Joining Keria Group is a new step for LightOnline. It will allow us to develop our leadership in the lighting industry in France. We are delighted with this new partnership, which paves the way to great opportunities for the future. Financière de Courcelles’ team has quickly revealed itself as a high added-value and trusted advisor for all stakeholders ».

Sébastien Hours, Chairman of the Supervisory Board of Keria Group:

« Not only does this acquisition allow us to offer a broader range of premium and designer lighting, but it also accelerates the growth of our digital market share, which will reach 25% by 2022. This transaction is in line with a clearly identified strategy based on two fundamentals: preserving the identity, the position and the industrial know-how of each brand and strengthening our digital strategy».

Emmanuel Ducrot & Guillaume Piette, Partner et Managing Partner at FDC respectively:

«We are delighted to have advised LightOnline’s shareholders during this key step in the history of the company. This new transaction in the digital sector demonstrates the expertise of Financière de Courcelles in sell-side mandates for corporates».

Stakeholders’ list:

• Adeo Group: Marc Delozanne, Guillaume Vanoverschelde, Alexandre Grand Dewyse, Matthieu Bernat
• Legal advisor: Villey Girard Grolleaud (Frédéric Grillier, Alexandre Reignier)
• M&A advisor: Financière de Courcelles (Emmanuel Ducrot, Guillaume Piette, Antoine Mainini, Hamza Lahna, Quentin Levrey)

• Keria Group: Sébastien Hours, Philippe Cailleux, Antoine Tassigny
• Financial advisor: Cairn Partners (Maxence Bousquet, Damien Mignot)
• Legal advisor: Bird & Bird (Lionel Berthelet, Marine Besson)
• Digital advisor: Orange Consulting (Marianne Bellamy, Eric Massaroni)

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