Cultural fit is key to buying any business – The Times

Dealmaking is on the rise again, after an understandable lull in 2020. Last week we saw Etsy, the online marketplace, agree to pay $1.6 billion for Depop, a UK-based second hand clothing app, loved by Gen Z shoppers. I wish them well. But for anyone who owns a business and is looking to grow, it is worth remembering that not all deals are destined for great things.

A sobering statistic that I always recall when tempted is that eight out of ten acquisitions destroy shareholder value. They are also often initiated for the self-aggrandisement or ego of the chief executive. So I ask myself why can I beat the odds? Am I doing this for the right reasons?

A common problem, as we discovered

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