04
december
2017
|
10:00
Europe/Amsterdam

Blokker Holding and Alteri Investors complete sale of Intertoys

Blokker Holding and Alteri Investors complete sale of Intertoys

Amsterdam, Mayfair (UK), December 4, 2017 – Blokker Holding and Alteri Investors finalised the latter’s acquisition today of Dutch toy retailer Intertoys (including all its Bart Smit and Toys XL stores), making Alteri the retailer’s new owner. The competition authorities have granted the required authorisation and the recommendation process by the Works Councils has been completed. No further details will be disclosed regarding the size of the transaction.

This transaction is in line with the strategic reorientation previously announced by Blokker Holding. Alteri Investors regards the acquisition of the Intertoys chain as a valuable addition to its portfolio and intends to use all its experience, knowhow and capital to further transform Intertoys into a customer-centric omnichannel retail business.

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About Intertoys

Intertoys – founded in 1976 in Gouda – operates around 500 stores (including more than 100 franchise) across the Netherlands, Belgium, Germany and Luxemburg, with one or more webshops in each country. Intertoys has implemented several modernisation and restructuring activities. In 2015 Blokker Holding announced the integration of the Intertoys and Bart Smit head offices and the instalment of one single management team for both retail brands. In June 2016 Blokker Holding announced the full integration of Intertoys, Bart Smit and Toys XL into one single brand: ‘Intertoys’. The conversion of Bart Smit stores to the Intertoys brand has now been completed in the Netherlands with the exception of 13 stores in the Netherlands and the Bart Smit stores in Belgium. Toys XL stores will be converted to Intertoys before the end of the year. Ahead of this year’s peak season, Intertoys will also implement several innovating omnichannel propositions and improvements to its online platforms. The majority of stores are located in the Netherlands. Intertoys has more than 4,000 employees and recently introduced several pilot stores in the Netherlands.

About Alteri Investors

Alteri Investors is a specialist investor in the European retail sector with a successful track record of resolving challenging retail situations. It was launched in November 2014, as a joint venture between Alteri’s management and funds managed by affiliates of leading alternative investment manager Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO).

Alteri brings together a team with deep investment and restructuring expertise in retail. Since launching, it has competed a wide range of debt and equity transactions including the acquisition of Versandhaus Walz, a leading multi-channel and multi-brand retailer based in Germany. Alteri is committed to introducing new money to help restore businesses to health. It is based in Mayfair, London.

About Blokker Holding

Blokker Holding is a retail company focussing on household goods and toys. Blokker Holding currently has five retail formulas (Blokker, Big Bazar, Xenos, Maxi Toys and Marskramer) with more than 1,370 stores in eight countries and circa 14,000 employees. On 16 May 2017, Blokker Holding announced its decision to focus entirely on the Blokker retail chain in the Netherlands and Belgium and to sell the company’s other retail companies Xenos, Leen Bakker, Intertoys, Maxi Toys and Big Bazar. Retail chain Marskramer will continue as a franchise format and wholesale organisation. In July 2017 Blokker Holding completed the sale of Leen Bakker to Gilde Equity Management. Nextail, the online organisation servicing all of Blokker Holding’s retail companies, continues to service Leen Bakker and Intertoys through service level agreements. More information: www.blokkerholding.nl.