Global Blue acquires ZigZag
Niederer Kraft Frey assisted Global Blue as Swiss counsel in the equity private placement in connection with the acquisition of ZigZag, a leading ecommerce returns platform.
The acquisition was closed on 19 March 2021. The union enables Global Blue and ZigZag to join forces to further empower merchants to capture growth opportunities through omni-channel technology and payment solutions.
Global Blue, global leader in tax-free shopping, is listed on the New York Stock Exchange (Ticker: GB) and raised USD 70 million via a private placement of common stock issued to new institutional investors to fully fund the ZigZag acquisition. ZigZag is an exciting, fast-growing new player in the retail technology space. As of December 2020, it had served around 100 merchants through its platform. It had also helped 12 million consumers to connect seamlessly with 450 carriers and 220 warehouses in 130 countries to digitally manage their returns. ZigZag processed more than 8.5 million returns in 2020 versus 1.5 million in 2019.
The NKF team was led by Corporate/M&A partners Philipp Haas and Ulysses von Salis, working with associate Shu Bernet-Zhang and junior associate Reto Seiler (all Corporate/M&A).