Blokker Holding and Gilde Equity Management complete sale of Leen Bakker
Blokker Holding and Gilde Equity Management finalised the latter’s acquisition today of Dutch home furnishings retailer Leen Bakker, making the private equity firm the retailer’s new owner. The required authorisation has been granted by the Central Works Council as far as competition regulations and request for recommendation are concerned. 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. Gilde Equity Management regards the acquisition of the Leen Bakker chain as a valuable addition to its portfolio and intends to use all its experience, knowhow and capital to ensure a successful future for the retailer’s customers and employees.
The Dutch home furnishings retailer Leen Bakker is committed to being the brand for everybody who wants beautiful, functional and affordable home furnishings. The foundation for this was laid by Cornelis Bakker. His textile shop in Rotterdam has grown over the past nearly 100 years into one of the largest and most well-known home furnishings stores in the Netherlands and Belgium. More than 2,300 employees work in front of and behind the scenes to fulfil the mission: a home for everyone! Leen Bakker has always focussed primarily on the two main rooms in a home: the living room and the bedroom. The company has been a part of Blokker Holding since 1988. Leen Bakker realises annual revenue of more than 330 million euros.
About Gilde Equity Management
Gilde Equity Management was founded in 1982 and is one of the oldest and most leading private equity firms in the Netherlands. Since its establishment, Gilde has invested in more than 50 companies in the retail, food, services and manufacturing industries in the Netherlands and Belgium. Gilde’s related aim is to achieve sustainable growth and has previously invested in brands including Peijnenburg, HG cleaning products, Kwantum, Johma Salads, Dunlop Protective Footwear and charging pole company Ev-Box.
About Blokker Holding
Blokker Holding is a retail company focussing on household goods, living and toys. Blokker Holding currently has six retail formulas with more than 1,900 stores (excluding Leen Bakker) in eight countries and circa 18,500 employees. On 16 May 2017, Blokker Holding announced its decision to focus entirely on Blokker in the Netherlands and Belgium and to sell the company’s other five formulas. Retail chain Marskramer will continue as a franchise format and wholesale organisation. More information: www.blokkerholding.nl