Friday 10 July 2020

Jumbo says no to Hema, is not interested in taking over high street chain

Supermarket group Jumbo is not interested in taking over struggling high street chain Hema, finance chief Ton van Veen has told the Telegraaf in an interview.

‘We have a fruitful alliance, the synergy is good, particularly where we can strengthen each other,’ Van Veen said. ‘But there is no question of us becoming the owner.’

Last week a group of investors took over Hema in return for reducing the company’s debt from €750m to €300m. However, they are expected to soon sell the company, and Jumbo has been tipped as one of the potential owners. Blokker reportedly made an offer for the company before the investors acted.

Last December Jumbo took over 17 city centre locations Hema as part of the commercial partnership between the two companies which was launched in November.

In addition, Jumbo is becoming Hema’s food partner in six of the country’s biggest railway stations. All Jumbo stores in Belgium and the Netherlands will also start selling Hema household products.

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