View source for Maxeda

{{Short description|Dutch retail company}}
{{More citations needed|date=January 2021}}
{{Infobox company
| name = Maxeda DIY Group
| logo = Maxeda_DIY_Group.png
| type = [[Privately held company|Private]]
| key_people = [[Guy Colleau]], CEO
| industry = [[Retail]]
| products = [[General merchandise]], [[financial services]]
| brands = [[Brico]], [[Praxis (store)|Praxis]], [[Brico]], BricoPlanit. 2004–10: [[V&D]], [[La Place (restaurant chain)|La Place]], [[De Bijenkorf]]. 2004–7: [[HEMA (store)|HEMA]].
| revenue = [[Euro|€]] 1.337 Billion (2015)<ref>{{Cite web |url=https://www.maxedadiygroup.com/upload/docs/highlights-facts-2015-uk_001.pdf |title=Continue Strategic Growth: Maxeda DIY Group Highlights & Facts 2015 |access-date=2017-06-03 |archive-date=2023-04-11 |archive-url=https://web.archive.org/web/20230411125930id_/https://www.maxedadiygroup.com/upload/docs/highlights-facts-2015-uk_001.pdf |url-status=live }}</ref>
| operating_income = [[Euro|€]] 101 Million (2013/2014)<ref>{{Cite web |url=http://www.maxedadiygroup.com/upload/docs/maxeda-diy-group-annual-review-2013-2014-uk.pdf |title=Sustainable growth in a challenging market: Maxeda DIY Group 2013/14 Annual Review (Building the Best) |access-date=2017-06-03 |archive-date=2015-06-16 |archive-url=https://web.archive.org/web/20150616070720id_/http://www.maxedadiygroup.com:80/upload/docs/maxeda-diy-group-annual-review-2013-2014-uk.pdf |url-status=dead }}</ref>
| owner = [[Kohlberg Kravis Roberts]]
| num_employees = 7,000
| caption =
| foundation = {{start date and age|1999}}
| location_city = [[Amsterdam]]
| location_country = [[Netherlands]]
| homepage = {{Official URL}}
}}
'''Maxeda''' is a Dutch retail company owned by American investment firm [[Kohlberg Kravis Roberts]] & Co. (KKR) which is currently a market leader in the [[DIY]] retailing in [[Benelux|The Netherlands, Belgium and Luxembourg]]. When Maxeda acquired '''Vendex KBB''' (KBB = '''Koninklijke Bijenkorf Beheer'''), Maxeda owned the three most prominent Dutch department stores: [[Vroom & Dreesmann]] and [[De Bijenkorf]], both sold in 2010, and [[HEMA (store)|HEMA]], sold in 2007.
== Activities ==
Maxeda DIY Group is the market leader in the DIY segment and has 345 stores in the Benelux and more than 7,000 employees. Most stores have a floor space of 3,000 to 5,000 m<sup>2</sup> and carry the name [[Praxis (store)|Praxis]] in the Netherlands (195 stores) and [[Brico]] in Belgium and Luxembourg (153 stores). Annual turnover is approximately 1.3 billion. All stores have a total of more than 1 million m<sup>2</sup> of retail space, with more than 1.5 million customers in the store and online every week.<ref>{{Cite web|title=Results - About us - Maxeda DIY Group|url=https://www.maxedadiygroup.com/en/about-us/results/|access-date=2020-07-23|website=www.maxedadiygroup.com}}</ref>
== History ==
The company was created in 1999 after a [[Mergers and acquisitions|merger]] of Vendex (previously its largest chain [[Vroom & Dreesmann]]) and Koninklijke Bijenkorf Beheer (KBB) (with [[De Bijenkorf]] and [[HEMA (store)|Hema]]). From 1999 to 2004 it was called Vendex KBB NV.
In 2004, it was announced that Vendex KBB NV would be taken over by a group of investors, [[Kohlberg Kravis Roberts|Kohlberg Kravis Roberts & Co]] (KKR), Change Capital Partners and [[AlpInvest Partners]] (united in the consortium VDXK Acquisition BV led by KKR). Change Capital later left VDXK. In July 2004, Vendex KBB was definitively taken over by VDXK after all shares were acquired by the group.<ref>{{Cite web|title=EUR-Lex - C2004/138/03 - EN - EUR-Lex|url=https://eur-lex.europa.eu/legal-content/NL/TXT/?qid=1405270123826&uri=CELEX:C2004/138/03|access-date=2020-07-23|website=eur-lex.europa.eu}}</ref>
Until 2 August 2004, Vendex KBB was listed in the Midkap index of [[Euronext Amsterdam]]. The company was converted from an NV into a BV, after a few months Koninklijke Vendex KBB BV was closed down, and the BV that had set up the investment company to buy Koninklijke Vendex KBB BV was renamed Vendex KBB BV. KBB stood for Koninklijke Bijenkorf Beheer, but because of the loss of the Royal designation, the K had become a letter without meaning.<ref>{{Cite web|date=2005-12-02|title=Vendex KBB niet meer Koninklijk|url=https://www.nu.nl/economie/636017/vendex-kbb-niet-meer-koninklijk.html|access-date=2020-07-23|website=NU|language=nl}}</ref>
The company was based in Amsterdam with 25,000 employees (16,000 FTEs) in seven countries (the Netherlands, Belgium, Luxembourg, Denmark, Germany, France and Spain) and net sales of more than €4 billion (2003/04). The CEO was Tony DeNunzio (chairman of the board).{{Citation needed|date=October 2024}}{{Year needed|date=October 2024}}
On June 14, 2006, the new owners of Vendex KBB announced that the name was changed to Maxeda to highlight a new business philosophy.<ref>{{Cite web|date=2006-06-14|title=Vendex KBB verandert naam in Maxeda|url=https://www.trouw.nl/gs-bcee9a15|access-date=2020-07-23|website=Trouw|language=nl-NL}}</ref>
In July 2007, [[HEMA (store)|HEMA]] was sold to the British investment company [[Lion Capital LLP|Lion Capital]].<ref>{{Cite web|date=2007-07-06|title=Maxeda rondt verkoop Hema aan Lion Capital af|url=https://www.trouw.nl/gs-b0dfe370|access-date=2020-07-23|website=Trouw|language=nl-NL}}</ref> The acquisition amount has not been released, but analysts estimate it to be approximately €1.3 billion, roughly equal to HEMA's 2006 sales. At the time, HEMA employed approximately 10,000 employees in 336 branches in the Netherlands, Belgium, Germany and Luxembourg.{{Citation needed|date=October 2024}}
The strategy changed around 2010 and Maxeda continued with the DIY activities and all Maxeda Fashion businesses were sold. V&D was quickly sold to [[Sun Capital Partners]], de Bijenkorf to Selfridges Group and lingerie chain Hunkemöller to investment company [[PAI Partners]]. In January 2011, [[MS Mode|M&S Mode]], a chain of women's fashion stores, was sold to Excellent Retail Brands group (ERB). At that time, M&S Mode had an international network of 417 stores <ref>{{Cite web|date=2014-07-14|title=Maxeda verkoopt M&S Mode - Nieuws.nl|url=http://www.nieuws.nl/economie/20101207/Maxeda-verkoopt-MampS-Mode|archive-url=https://web.archive.org/web/20140714115303/http://www.nieuws.nl/economie/20101207/Maxeda-verkoopt-MampS-Mode|url-status=dead|archive-date=2014-07-14|access-date=2020-07-23}}</ref>
In 2016, private equity parties Ardian and Goldentree, as venture investors (or so-called Distressed Debt Funds), became part owners of Maxeda by converting their loans into shares.<ref>{{Cite web|title="'Aasgieren' willen van Maxeda af" - MIXonline|url=https://mixonline.nl/news/3053/-quot-aasgieren-willen-van-maxeda-af-quot-|access-date=2020-07-23|website=mixonline.nl|language=nl}}</ref> The director of Maxeda DIY Group Roel van Neerpelt then left for Friesland Campina and was succeeded by a director of Kingfisher, Frenchman Guy Colleau.<ref>{{Cite web|title=Maxeda vervangt ceo|url=https://retailtrends.nl/news/44377/maxeda-vervangt-ceo|access-date=2020-07-23|website=RetailNews|language=nl}}</ref>
== Do-it-yourself chains ==
*[[Brico]] ''(Belgium and Luxembourg)''
*BricoPlanit ''(Belgium)''
*[[Praxis (store)|Praxis]] ''(Netherlands)''
== Former chains ==
'''Clothing'''
*[[MS Mode]] ''(at the time known as M&S Mode) (Netherlands, Belgium, Luxembourg, Germany, France and Spain)'' - sold in 2010 to Excellent Retail Brands
*[[Hunkemöller]] (Lingerie) ''(Netherlands, Belgium, Luxembourg, Germany, France, Denmark, [[Aruba]], [[Curaçao]], Saudi Arabia, Bahrain, Qatar, United Arab Emirates, Kuwait)'' — in 2010 sold to [[PAI Partners]].
*[[Claudia Sträter]] ''(Netherlands, Belgium, Luxembourg and Germany)'' - sold in 2009
'''Restaurants'''
*[[La Place (restaurant chain)|La Place]] — sold to Sun European Partners (along with Vroom & Dreesmann)
'''Department stores'''
*[[De Bijenkorf]] ''(Netherlands)'' — in 2010 sold to [[Wittington Investments]] for €290 million
*[[Vroom & Dreesmann]] ''(Netherlands)'' — in 2010 sold to American investment company [[Sun Capital Partners]]
'''[[Variety stores]]'''
*[[Hema (store)|HEMA]] ''(Netherlands, Belgium and Germany)'' — in 2007 sold to the British investment group [[Lion Capital LLP]]
'''Consumer electronics'''
*[[Dixons (Netherlands)]] — sold to Dexcom in 2006
'''Jewellery and watches'''
* Schaap & Citroen ''(Netherlands)'' - sold in 2009
'''Do-it-yourself'''
*[[Formido (store)|Formido]] ''(Netherlands)'' - closed 2020
== See also ==
[[Philips Computers]], former parent of Vendex which sold personal computers under the Headstart brand
== References ==
{{Reflist}}
== External links ==
* {{official website}} {{in lang|nl}}
{{Kohlberg Kravis Roberts}}
[[Category:Maxeda|*]]
[[Category:Kohlberg Kravis Roberts companies]]