Press release -
Pierce Group acquires Spain-based MotoBuykers.
The deal is the successful Swedish e-commerce company’s first European acquisition and marks its entry into the Spanish market.
It is said that many successful businesses have started in a garage, and that is exactly how business started for both Pierce and Motobuykers some nine years ago. The eternal hunt for motorcycle spare parts and a lack of good suppliers sparked the same idea, of stocking and selling motorcycle parts online and offering a fast and reliable service with attractive prices, in two different garages 3000km apart. In 2009 two friends founded Pierce in a garage in the suburbs of Stockholm, Sweden and one year later four friends founded MotoBuykers in a garage in Spain.
The short summers in Sweden forced Pierce to quickly grow sales in markets with a longer motorcycle season. Today Pierce has become one of Europe’s largest and most successful e-commerce companies within the motorcycle and snowmobile parts and accessories industry. Pierce operates stores under the brands 24MX, XLmoto, and Sledstore in 17 European markets with a 2017 turnover exceeding EUR 60 million, up 45% from 2016.
Motobuykers has grown to become one of Spain’s leading e-commerce companies within the motorcycle parts and accessories industry. They have also reached steady positions in France and Italy and on top of that created the successful WeRide-app, a social app for motorcyclists.
What started with 6 motorcycle enthusiasts in two garages will now become a company with more than 240 employees, and which aims to deliver well over a million parcels of motorcycle products to customers across Europe during 2018.
Motobuykers will initially continue operating under the Motobuykers name and brand. It will continue to be run by the same experienced management team that is in place today.
David Falk, CEO of Motobuykers, said "We are extremely pleased to become part of the Pierce Group. Together, we will be able to accelerate our ambitious growth plan for Southern Europe and offer our customers a huge catalog of motorcycle products combined with high quality local service."
Henrik Zadig, CEO of Pierce, said “One of Pierce's key strategic priorities has been to significantly expand the company's product range to meet customer needs across the whole of Europe. In 2017 alone, we launched close to 100 new brands in our stores to achieve the goal of offering Europe's best range of motorcycle parts and accessories.”
“This is an exciting announcement for us. We believe this transaction will further strengthen our offering and presence in southern Europe, as well as accelerate our ability to serve our customers and meet their constantly increasing demands. In addition, this deal will make Pierce even better positioned to navigate the fast evolving motorcycle industry. With the acquisition of Motobuykers in Spain, we have a great online position in the large European motorcycle market where sales are shifting rapidly from physical retail stores to online stores. Our competitive product range and our efficient logistics combined with Motobuyker's customer base and market knowledge set the stage for continued success in Southern Europe”, continues Henrik Zadig.
The transaction is subject to certain conditions and is expected to close during the first half of this year.
It is said that many successful businesses have started in the garage, so it feels good that this was exactly how it all started for us. The eternal hunt for motorcycle spare parts and lack of good suppliers sparked the idea of stocking and selling motorcycle parts online and offering a fast and reliable service. Within only a few months we grew out from the garage and in January 2009 we started Pierce AB and launched 24MX, where we started to sell spare parts and equipment for the motocross world. Sales grew in a way that we never could have imagined.
At the beginning of 2009 we were only a team of 4, today we are more than 200, committed in giving our customers a huge range of products and an extraordinary level of service.
When we launched XLmoto in 2013 it was with the vision of inviting everyone who loves motorcycles to come online and get a look at our huge range of products, with fast and reliable deliveries. Our latest launch Sledstore is a Mecca for the Nordic snowmobile fanatics.
Pierce is currently active in 17 European markets. We are still growing fast and always with black numbers at the last row.