REA to buy 35% of Daft.ie owner Distilled in $290 million deal
What's the deal? Australia's REA Group has agreed to acquire a 35% non-controlling stake in DistilledDealroom has a profile for this one. Try Dealroom →, the Irish digital marketplace operator that owns Ireland's top property portal Daft.ieDealroom has a profile for this one. Try Dealroom →. The share consideration is about US$264.6M (roughly $290 million) and will be funded through debt and existing cash reserves.
What does Distilled do? The company runs a portfolio of category-leading portals across Ireland and Northern Ireland. These include Daft.ie, PropertyPalDealroom has a profile for this one. Try Dealroom →, automotive marketplaces DoneDeal.ieDealroom has a profile for this one. Try Dealroom → and Used Cars NIDealroom has a profile for this one. Try Dealroom →, and classifieds site Adverts.ieDealroom has a profile for this one. Try Dealroom → — each operating independently under its own brand.
The numbers: Distilled generated revenue of €72.4 million and adjusted last-twelve-months EBITDA of €43.3 million as of June 2026. It has delivered consistent double-digit revenue and EBITDA growth over the past five years, and REA expects the deal to be modestly earnings-per-share accretive in the first year after completion.
Why now? REA framed the move as a disciplined entry into a high-growth market with structural similarities to Australia, including growing adoption of a vendor-paid advertising model. It cited Ireland's economy, population growth, and housing demand as long-term fundamentals.
Shares will be acquired on a pro-rata basis from current shareholders. Co-founder and chief executive officer Eamonn Fallon, who launched Daft.ie with his brother Brian in 1997, will continue to lead the business and remain a meaningful shareholder.
What could go wrong? The transaction is subject to regulatory approvals and other customary conditions. It is expected to complete before the end of 2026.
The signal: The deal extends REA's core property strategy into a digitally mature European market, signalling continued consolidation among global online real-estate players seeking growth beyond home markets.
Read more: listcorp.com
Image credit: infomatique
