Hema acquisition finalized in €440 million deal
HEMA, the Dutch variety store-chain, will be taken over by the owners of the supermarket chain Jumbo, the Van Eerd family, and investment company Parcom after all sides agreed to final terms of a deal. The troubled retail chain confirmed this in an announcement on Thursday.
The acquisition will be formally completed in February 2021. The takeover is worth around 440 million euros. Hema has over 500 stores in the Netherlands and many more in other countries across Europe and the Middle East.
Earlier this year, a group of creditors took control of HEMA from former owner Marcel Boekhoorn. That allowed HEMA to reduce its immediate debt obligations and improve its long-term position. Not long afterward, the family behind Jumbo came into the picture as a new takeover candidate.
The Van Eerd family joined forces with the Dutch investor Parcom to finalize the deal. A spokesperson for HEMA says that he is extremely pleased with the completion of the acquisition “at a time when our stores are forced to close.”
Just over a year ago, HEMA and Jumbo already entered into a commercial partnership. HEMA products were already being sold in many Jumbo supermarkets.