GLOBAL BLUE
Acquired by
SHIFT4
GLOBAL BLUE acquired by SHIFT4
Target
GLOBAL BLUE
Acquirer
SHIFT4
Context
Shift4 entered into a definitive agreement to acquire 100% of Global Blue for a total consideration representing the most significant transaction in Shift4’s 26-year history. The deal was structured as a cash tender offer at $7.50 per common share, representing a 15% premium over the undisturbed stock price, alongside the acquisition of preferred shares. This strategic combination aims to merge Shift4’s dominant US payment infrastructure with Global Blue’s international leadership in tax-free shopping and currency conversion. By uniting their complementary geographic footprints, the merged entity will create a global commerce powerhouse operating in over 50 countries.
GLOBAL BLUE, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the average currently observed in the Financial Services sector (14.0x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Global Blue is a specialized technology and service partner dedicated to enhancing the international shopping journey through a comprehensive "phy-gital" ecosystem. The company is a global leader in Tax-Free Shopping services, enabling seamless VAT refunds for international travelers, and offers advanced Dynamic Currency Conversion (DCC) and e-commerce post-purchase solutions. Operating across 52 countries in Europe, APAC, and Latin America, the organization connects thousands of luxury retailers, acquirers, and hotels with nearly 80 million consumers. Its proprietary technology platform simplifies complex cross-border transactions at over 400,000 merchant locations, supported by specialized advisory services in business intelligence and digital marketing.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with GLOBAL BLUE
REFERENCES
Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Acquirer: shift4