Sales negotiations lead to eBay acquisition
eBay has taken over German retailer Brands4Friends.
Sales negotiations have led to auction site eBay making a $200 million (£128.5 million) acquisition of the German private sales retailer Brands4Friends.
As a result of the deal, eBay has taken over the German company's interest in British site SecretSales and has stated it will act as a boost to its position as a leading online fashion destination in Europe.
Doug McCallum, senior vice president for eBay in Europe, stated the firm wants to give its customers the best possible fashion experience.
"With the acquisition of Brands4Friends, we will enter the online shopping club market with an established and dynamic partner who has the expertise, relationships and passion to match our own ambition," he added.
Brands4Friends has an annual turnover worth £66m in Germany and became the majority shareholder in UK-based private sales site SecretSales.com in August of this year following a multi-million pound investment deal.
Sales negotiations may also be underway for Norwich and Peterborough building society, which is in early discussions with a number of parties about the possibility of a merger.