REA Group to acquire 35% stake in Ireland's Distilled for A$409 million

REA Group has announced an agreement to acquire a 35% interest in Distilled, the leading digital marketplace operator in Ireland and Northern Ireland, for €248 million (approximately A$409 million). The acquisition includes ownership of Ireland’s top property portal, Daft.ie, as well as PropertyPal in Northern Ireland, and several automotive and general classifieds platforms.

The company intends to fund the transaction through existing cash reserves and debt. REA Group stated that the move allows it to extend its core property strategy into a digitally mature, high-growth market with structural characteristics similar to Australia. The investment is expected to modestly increase core earnings per share (EPS) within the first year following completion.

Despite the acquisition news, REA Group’s share price has seen a significant decline of roughly 35% over the past year. However, the company’s recent financial results for FY26 showed growth, with Australian revenue increasing 11% to $1.7 billion and net profit after tax rising 15% to $650 million.