LatAm List – Online retail companies, B2W and Magazine Luiza, are both looking into acquiring Netshoes, a Brazilian e-Commerce company. For Magazine Luiza, this marks its debut in clothing; they have previously worked with home appliances, electronics, cellphones, and furniture. For B2W, it would be the first acquisition of another e-Commerce player; to date, it has only bought software and logistics companies.
The companies are carrying out due diligence and being advised by Goldman Sachs, BTG Pactual, and JP Morgan.
Centauro, a privately-held sports goods chain in the middle of its IPO process, is also considering acquiring Netshoes, but is not a likely contender according to Brazil Journal.
Since April 2nd, Netshoes’ stock has jumped 50%, and its current market value is $70M.
Read more on Brazil Journal.