Koninklijke Bijenkorf Beheer
| Company type | Private |
|---|---|
| Industry | Retail |
| Predecessor | Vendex KBB NV |
| Founded | 1999 |
| Fate | Refocused on DIY retail after divesting other businesses |
| Headquarters | Netherlands , Netherlands |
Area served | Netherlands, Belgium, Luxembourg (Benelux) |
Key people | Guy Colleau (CEO) |
| Products | DIY retail stores (Praxis, Brico) |
| Owner | Kohlberg Kravis Roberts & Co. (KKR), Ardian, Goldentree |
Number of employees | 7000+ |
Maxeda is a retail enterprise based in the Netherlands, owned by the American investment company Kohlberg Kravis Roberts & Co. (KKR). It currently holds a leading position in the DIY retail market throughout the Netherlands, Belgium, and Luxembourg. Following its acquisition of Vendex KBB (where KBB stands for Koninklijke Bijenkorf Beheer), Maxeda previously controlled prominent Dutch department stores such as Vroom & Dreesmann and De Bijenkorf, both of which were divested in 2010, as well as HEMA, sold in 2007.
Activities
Maxeda DIY Group dominates the DIY sector with a network of 345 outlets across the Benelux region, employing more than 7,000 staff members. The average store size ranges between 3,000 and 5,000 m2, operating under the Praxis brand within the Netherlands (195 locations) and Brico across Belgium and Luxembourg (153 stores). The group's annual revenue is close to €1.3 billion. Altogether, the retail floor area exceeds one million square meters, drawing over 1.5 million customers weekly through both physical stores and digital platforms.
History
The company originated in 1999 from the merger of Vendex, owner of Vroom & Dreesmann, and Koninklijke Bijenkorf Beheer (KBB), which owned De Bijenkorf and Hema. It operated under the name Vendex KBB NV until 2004.
In 2004, a consortium led by KKR acquired Vendex KBB NV, resulting in its removal from Euronext Amsterdam and transformation into a privately held company. At that time, it had a workforce of 25,000 employees across seven countries and generated net sales exceeding €4 billion. Tony DeNunzio was appointed CEO.
On June 14, 2006, Vendex KBB adopted the Maxeda brand to signify a revised corporate strategy.
In July 2007, Maxeda divested HEMA to British investment firm Lion Capital for approximately €1.3 billion. HEMA operated around 336 outlets with roughly 10,000 employees across various European markets.
By around 2010, Maxeda refocused solely on DIY retail by selling off all fashion-related businesses: Vroom & Dreesmann was sold to Sun Capital Partners; De Bijenkorf was transferred to Selfridges Group; lingerie retailer Hunkemöller went to PAI Partners; and in January 2011, women’s fashion chain MS Mode was sold to Excellent Retail Brands along with its portfolio of 417 stores.
In 2016, private equity investors Ardian and Goldentree joined as co-owners through debt-to-equity conversions. Following this change, CEO Roel van Neerpelt left for Friesland Campina and was succeeded by Guy Colleau from Kingfisher.
Do-it-yourself chains
Former chains
Clothing
- MS Mode (Netherlands, Belgium, Luxembourg, Germany, France, Spain) – divested in 2010 to Excellent Retail Brands
- Hunkemöller (Lingerie) (Netherlands, Belgium, Luxembourg, Germany, France, Denmark, Aruba, Curaçao, Saudi Arabia, Bahrain, Qatar, UAE, Kuwait) – sold in 2010 to PAI Partners
- Claudia Sträter (Netherlands, Belgium, Luxembourg, Germany) – sold in 2009
Restaurants
- La Place – transferred to Sun European Partners alongside Vroom & Dreesmann
Department stores
- De Bijenkorf (Netherlands) – sold in 2010 to Wittington Investments for €290 million
- Vroom & Dreesmann (Netherlands) – sold in 2010 to American investment firm Sun Capital Partners
Variety stores
- HEMA (Netherlands, Belgium, Germany) – sold in 2007 to British investment group Lion Capital LLP
Consumer electronics
- Dixons (Netherlands) – sold to Dexcom in 2006
Jewellery and watches
- Schaap & Citroen (Netherlands) – divested in 2009
Do-it-yourself
- Formido (Netherlands) – closed in 2020
See also
Philips Computers, the previous owner of Vendex, which distributed personal computers under the Headstart label