Vendex KBB sells six Group companies to CVC.

Royal Vendex KBB, the Dutch retail organisation, is planning to sell six of its group subsidiaries to the international investment firm CVC Capital Partners. The transfer is to be carried out as a single transaction. The six companies concerned are the Hans Anders opticians’ group, the Siebel jewellers’ group, Kijkshop, Perry Sport, Prénatal and Scapino. Together these companies operate eleven retail formulas, with over 8,000 employees, nearly 1,000 outlets and net sales of more than € 700 million. Vendex KBB will sell the six companies for a total of € 394 million. This works out at 7.8 times the operating result of the operations sold and 5.6 times the EBITDA. The transaction will generate a book profit of approximately € 145 million. The sale of the six companies is in line with the Group strategy towards streamlining the portfolio of retail formulas, in order to generate the necessary (financial) resources for expansion of a selected number of formulas, of which most have international ambitions and have good opportunities to develop as a major European player.
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28/05/2012 11:25
BENOEMINGEN
Jo Van Gorp Jo Van Gorp
CEO TOPCOM EUROPE NV
Jos Simaels
BRICORAMA - GAMMA