Global Savings Group (GSG) agrees to acquire Berlin-based Shoop Germany

By Megha Bhattacharya

European shopping rewards company, Global Savings Group (GSG) has announced an agreement to acquire Shoop Germany, operator of German cashback platform shoop.de. Shoop will now join forces with GSG to continue growing the strongest digital cashback community in Germany. Shoop is a Berlin-based loyalty platform that offers customers cash rewards with its network of more than 2,000 online merchants and top-tier brands.

“The deal strengthens GSG’s position as European market leader, building the largest global digital rewards, savings, and shopping content platform,” said Gerhard Trautmann, CEO of the GSG. “Following the acquisition of the leading French Cashback Company iGraal in March 2020, GSG’s primary goal is to empower consumers globally in making smarter shopping decisions through our comprehensive portfolio of consumer engagement platforms and solutions.”

According to the companies, the acquisition is expected to align GSG and Shoop’s vision to empower customers to make the best shopping decisions. Combining Shoop’s customer base with GSS’s network of advertisers, brands, and publishers is expected to bolster its future growth and reinforce the position as the European leader in the digital rewards and savings information industry.

“After the successful acquisition of iGraal in March 2020 and with the recent acquisition of Shoop, GSG has now also become the clear continental European leader in the growing shopping rewards space. I’m excited to continue working with the team on their journey as GSG is consolidating and transforming this industry in Europe that is undergoing a lot of change also in the US, as seen by the acquisition of players such as Honey through Paypal. I’m convinced that GSG is in a prime position of building a truly unique digital European Champion in this space,” said David Kuczek, general partner at HV Capital.