South African owner of Slovenian internet retailer
The South African media and online business giant Naspers has announced the purchase of a majority stake, around 80 percent, in Netretail Holding for nearly EUR 230 million. Netretail, founded in 2000 by Ondřej Fryc, Peter Burcal and Jan Mensik, the Czech internet retailer company has become a market leader in the CEE in the past 11 years with its 1 million registered customers and 600 different product categories ranging from books to electronics to sporting equipments. Netretail Holding B.V. runs regional online retail shops under the brand Internet Mall. It has subsidiaries in Czech Republic, Slovak Republic, Hungary and Poland. Recently, the company also acquired the largest Slovenian online retailer mimovrste.si.
In 2011 Netretail recorded a turnover of EUR 170 million and net profit of EUR 4 million. Before the acquisition, Intel Capital and MCI owned the largest percentage of Netretail; the current and former company employees own over 10 percent.