Motatos acquired by Discount Dragon as it exits UK
The parent company of Discount Dragon has acquired the UK trading assets and stock of Motatos for an undisclosed sum.
The news comes as Motatos exits the UK a year after it launched in the country due to tough market conditions.
In a statement, Huddled Group said it will now focus on its core markets, the DACH and Nordic regions, and exit the UK market with immediate effect.
The acquisition of Motatos will be complementary to the Discount Dragon brand which, like Motatos, sells surplus or short-dated stock.
“We are delighted to complete the acquisition of Motatos UK which is a natural fit to complement our Discount Dragon brand. At a time when consumers are struggling with the cost of living and looking to seek better value, we believe we are well positioned to offer everyday essentials at heavily discounted prices to the mass market.”