Hema high street chain up for sale
Thursday 09 September 2010
British investment fund Lion Capital has put the Hema retail group up for sale, less than three years after buying the high-street stalwart from the Maxeda retail group.
'Given Hema's excellent prospects, we think the time is right for Lion to look at the opportunities for an exit,' Lion's Robert Darwent says on the Volkskrant website.
Hema, founded in 1926, has 530 outlets and is active in the Benelux countries, Germany and France.
The company booked turnover of €1.1bn in 2009, up 3% on 2008. Hema booked a loss of €18.7m last year, due to higher taxes and financing costs.
Maxeda is also selling some of its high street groups, including the V&D department store group.
© DutchNews.nl
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