REA Group acquires 35% stake in Distilled for $409M
- REA Group agreed to acquire a 35% non-controlling minority stake in Irish digital marketplace operator Distilled.
- The transaction is valued at approximately €248 million and will be funded via debt and existing cash reserves.
- The deal allows REA Group to expand its property strategy into Ireland and Northern Ireland through digital platforms like Daft.ie and PropertyPal.
REA Group (ASX:REA) agreed to acquire a 35% non-controlling minority interest in Irish digital marketplace operator Distilled for approximately €248 million.
The transaction expands the Australian property portal operator's presence in European digital real estate markets against existing international holdings.
Distilled CEO and co-founder Eamonn Fallon will continue to lead the business and remain a meaningful shareholder following completion.
REA Group CEO Cameron McIntyre said, "The investment provides immediate exposure to an exceptional business with a strong growth trajectory and a portfolio of high-growth assets."
The acquisition is expected to complete before the end of 2026, subject to regulatory approvals and customary closing conditions.
Following the announcement, the REA Group share price was unchanged at $148.53.
Distilled operates online property and automotive portals across Ireland and Northern Ireland, including Daft.ie, PropertyPal, DoneDeal.ie, Used Cars NI, and Adverts.ie.
REA Group stated that the investment is expected to be modestly accretive to core earnings per share in the first year following completion.
