internetstores AG, a Stuttgart, Germany-based online bike and outdoor retailer, has received a €30m growth investment from EQT Expansion Capital II (http://www.eqt.se).
With the transaction, EQT Expansion Capital II has acquired a substantial minority stake in the company. Founder René Köhler will remain majority owner in internetstores.
The investment aims to help the company accelerate growth and expand abroad.
Founded in 2003, internetstores is today an online bike and outdoor retailer with a large variety of brands covering a vast assortment of over 50,000 products through its brands fahrrad.de, Brügelmann, Bikeunit and Bikester for bikes as well as CAMPZ for outdoor.
The company, which recently acquired Votec (read here), has a leading position in its key market Germany and continues to increase an international market share, in Switzerland, Austria and France.