PHOTO: Purplebricks
Purplebricks Group plc has announced that it has agreed terms to acquire the Canadian digital real estate service DuProprio/ComFree (DPCF) for £29.3 million.
DPCF owns and operates one of Canada’s leading commission-free real estate service networks as an online offering with similar aspects to Purplebricks.
The management team of DPCF has built up a profitable 20.2% market share of the real estate market in the province of Québec, and has more recently launched into new territories, securing a 2.0% market share in Ontario and 2.3% in Western Canada (Manitoba, Saskatchewan and Alberta).
DPCF reported approximately 39,000 listings in 2017, reporting total revenues of CAN$45.6 million, approximately £26.2 million.
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