Morele, a sponsor-backed online retailer, will look to acquire between one and four e-commerce businesses or digital brands in 2023, co-founder and CEO Michal Pawlik told Mergermarket. It could also raise additional capital to finance M&A activities, he said.
Morele could make one acquisition per quarter and is interested in targets with a turnover of at least PLN 40m (USD 8.7m), Pawlik said. It is primarily looking at opportunistic buys and is motivated by the very low valuations of digital brands compared to the period two to three years ago, he said.
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