The deal should be completed in the next eight weeks. Hema and Jumbo have been working together for some time, the Van Eerd family had already expressed interest in a takeover of the department store chain plagued by creditors. However, interest seemed to have waned at the end of June 2020, we read MarketingTribune.
A few weeks ago it became clear that only a few players were still in the race for a takeover of Hema, including Marcel Boekhoorn who made another attempt, the Jumbo Group and a few foreign parties. A Dutch initiative by customers (‘#KoopdeHema raises money for a stable future for Hema’) also turned out to be more serious than expected. Now the Jumbo Group seems to be settling the dispute in the run-up to their anniversary year in 2021.
Learning from Van Eerd
Hema CEO Tjeerd Jegen resigns Nu.nl pleased that the investment fund Parcom is working together with the Van Eerd family. ‘We are impressed by the entrepreneurial mentality and passion for retail of the Van Eerd family, from which Hema will be able to learn from.’ If retail love brand it will also appeal to many ‘ordinary’ Dutch people that the Hema will return to Dutch hands.
The department store chain owes a sky-high debt to grab capitalists who previously owned Hema, which amounted to more than 800 million euros at the beginning of 2020. As a result, Hema annually loses about 50 million euros in interest: hardly feasible, even in non-pandemic times. Hopefully, these ‘Anglo-Saxon situations’ will soon be over. Yet it is not yet a race that it will come to a takeover, warn both parties in a joint message from which NRC quotes. ‘First, a thorough due diligence must be carried out and the buyers must be given clarity about the bank loan with which they want to partly finance the acquisition.’ Jumbo is aiming for € 10 billion in turnover in its anniversary year 2021, Annexum reported at the beginning of 2020. This new acquisition could make it even more festive.
(PvWK, sources: Jumbo, DFT, Twitter, MT, NRC, Nu.nl; statue: wiki commons)