AussieCommerce Group adds yet another brand to its growing stable, with the acquisition of New Zealand daily deals site, TreatMe.
One of Australia’s largest e-commerce groups, AussieCommerce Group, has acquired New Zealand daily deals site, TreatMe. The acquisition is part of the group’s efforts to expand its presence in New Zealand.
“We are excited to join forces with TreatMe and expand our presence in New Zealand where we now have over a million members,” said Joshua David Borenstein, COO and co-founder of AussieCommerce.
The company has been pursuing strategic acquisitions to complement organic growth. The TreatMe acquisition comes on the back of numerous recent acquisitions including the Australian and New Zealand operations of LivingSocial, the Australian arm of PINCHme, and New Zealand deals site DailyDo, to name a few.
“Carefully targeted acquisitions in the e-commerce space have been a powerful tool for us to grow our reach, improve our technology, and find top-notch talent. Some of the companies we have purchased were sub-scale and loss-making at the time of acquisition, but we have managed to transform many of them into profitable businesses over time,” said Borenstein.
TreatMe was originally started in 2011 by TradeMe, New Zealand’s leading online marketplace, but was sold in a management buyout led by TreatMe’s CEO James MacAvoy in 2013.
The acquisition complements AussieCommerce’s Auckland-based DailyDo and provides significant additional strength for AussieCommerce in the New Zealand market, where the company expects to generate more than NZ$30 million dollars in sales in 2016.
TreatMe will join AussieCommerce Group’s stable of 15 brands, which includes a team of more than 400 people, and a database of more than 10 million members.