Maxeda
| Company type | Private |
|---|---|
| Industry | Retail |
| Predecessor | Vendex, Koninklijke Bijenkorf Beheer (KBB) |
| Founded | 1999 |
| Headquarters | Netherlands , Netherlands |
Area served | Benelux |
Key people | Guy Colleau (CEO) |
| Products | DIY retail (Praxis, Brico, BricoPlanit) |
| Owner | Kohlberg Kravis Roberts & Co. (KKR) |
Number of employees | 7,000+ |
Maxeda is a retail enterprise based in the Netherlands, owned by the American private equity firm Kohlberg Kravis Roberts & Co. (KKR). It currently dominates the DIY retail market throughout the Benelux countries. Following its acquisition of Vendex KBB (where KBB stands for Koninklijke Bijenkorf Beheer), Maxeda previously owned prominent Dutch department stores such as Vroom & Dreesmann and De Bijenkorf (both divested in 2010), as well as HEMA, which was sold in 2007.
Operations
Maxeda DIY Group commands a leading position in the DIY retail sector, operating 345 outlets across the Benelux region and employing more than 7,000 personnel. Store sizes generally vary between 3,000 and 5,000 m2. The group trades under the Praxis brand in the Netherlands, with 195 locations, and under Brico in Belgium and Luxembourg, comprising 153 stores. The company generates annual revenues near €1.3 billion, with retail space totaling over 1 million m2, catering to upwards of 1.5 million customers weekly through both physical stores and online channels.
Company Background
Established in 1999 through the merger of Vendex (notably operating Vroom & Dreesmann) and Koninklijke Bijenkorf Beheer (which included De Bijenkorf and Hema), the firm was known as Vendex KBB NV until 2004.
In 2004, a consortium led by KKR acquired Vendex KBB NV, resulting in its delisting from Euronext Amsterdam and transformation into a private BV entity. At that time, the company employed approximately 25,000 individuals across seven countries and recorded net sales exceeding €4 billion. Tony DeNunzio held the CEO position.
On June 14, 2006, Vendex KBB underwent rebranding to become Maxeda, signaling a new strategic vision.
By July 2007, Maxeda divested HEMA to British investment firm Lion Capital, with the deal valued at around €1.3 billion. At that point, HEMA operated roughly 336 outlets and employed about 10,000 staff across multiple European nations.
Around 2010, Maxeda refocused exclusively on its DIY segment by selling off all fashion-related businesses: V&D was transferred to Sun Capital Partners, De Bijenkorf was acquired by Selfridges Group, lingerie retailer Hunkemöller was sold to investment firm PAI Partners, and women's apparel chain MS Mode was handed over to Excellent Retail Brands, which managed an international portfolio of 417 stores.
In 2016, private equity firms Ardian and Goldentree converted outstanding loans into equity positions within Maxeda. Subsequently, CEO Roel van Neerpelt left for Friesland Campina and was replaced by Guy Colleau, previously with Kingfisher.
DIY Retail Brands
Former Retail Chains
Apparel
- MS Mode (Netherlands, Belgium, Luxembourg, Germany, France, 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) — divested in 2010 to PAI Partners
- Claudia Sträter (Netherlands, Belgium, Luxembourg and Germany) - disposed of in 2009
Foodservice
- La Place — sold alongside Vroom & Dreesmann to Sun European Partners
Department Stores
- De Bijenkorf (Netherlands) — acquired in 2010 by Wittington Investments for €290 million
- Vroom & Dreesmann (Netherlands) — sold in 2010 to American private equity firm Sun Capital Partners
Variety Stores
- HEMA (Netherlands, Belgium and Germany) — sold in 2007 to British investment group Lion Capital LLP
Electronics Retail
- Dixons (Netherlands) — transferred to Dexcom in 2006
Jewelry and Watches
- Schaap & Citroen (Netherlands) - sold in 2009
DIY Segment
- Formido (Netherlands) - operations ceased in 2020
See also
Philips Computers, the previous owner of Vendex, which distributed personal computers under the Headstart label