HomeToGo acquires vacation rental management company Interhome

Frankfurt Stock Exchange-listed HomeToGo SE has signed an agreement to acquire Interhome, Europe's second-largest vacation rental management company, from Migros, which is Switzerland’s largest retail company.

HomeToGo agreed to a purchase price of CHF150 million, plus deferred payments of up to CHF85 million, and which may become due in tranches until 2029, making this the most significant transaction in HomeToGo Group's history, and which positions HomeToGo to become Europe's leading vacation rental platform.

With this transaction, HomeToGo Group's total pro-forma Adjusted EBITDA for full-year 2024 would triple to more than €30 million.

The transaction is expected to be financed through a combination of new equity, senior debt and available net cash and is expected to close in the first half of this year, subject to customary regulatory approvals for both the acquisition of Interhome by HomeToGo and the simultaneous acquisition, within the same transaction, of the other entities in Hotelplan Group by DERTOUR Group, a renowned international tourism group.

Law firm Homburger advised HomeToGo on the Swiss law and tax aspects of the transaction, with a team led by Frank Gerhard (corporate/M&A), and which included Olivier Bühlmann, Magdalena Stock, Daniel Bötticher, Miriam Oelgarth and Harun Cetin (all corporate /M&A), Stefan Bindschedler and Michelle Wolf (both of the financing and investment products team), Luca Dal Molin and Joel Fink (both IP/IT), Richard Stäuber and Christoph Grüninger (both from the firm’s competition team).

The firm’s team also included Reto Heuberger, Stefan Oesterhelt and Philippe Weber (all tax), Vanessa Huber and Jeremy Reichlin (both employment and executive compensation), and Gabriel Kasper of the firm’s data protection team, and Stefanie Pfisterer, from the firm’s arbitration practice.

Homburger acted alongside a German-based Linklaters team on the transaction.