Netherlands-based private equity investment firm Ramphastos Investments has completed the acquisition of discount retail chain Hema following the approval from the Dutch Authority for Consumers and Markets (ACM), for an undisclosed amount.
In October this year, Ramphastos announced that it will acquire Hema and its debt from Lion Capital.
As the transaction is complete, Hema will now focus on its strategic plans to drive its growth, as well as reduce debt in the coming years.
The retailer will also invest in core markets, such as the Netherlands and Belgium, and in e-commerce and international expansion under Ramphastos’ new ownership.
Hema expects that its current international partnerships will allow the company to continue its growth further and its plans to establish new partnerships with other international partners to accelerate the expansion.
In addition, the retailer will continue to work with Vereniging Aangesloten Bedrijven (VAB), the association of its franchisees, through mutual beneficial partnership for future cooperation.
Commenting during the announcement of the deal, Hema CEO Tjeerd Jegen said: “In recent years, Marcel Boekhoorn and his team have shown strong engagement with their portfolio companies, encouraged entrepreneurship and demonstrated a keen investment vision.
“I would also like to thank our franchisees for their commitment on reaching new future-proof arrangements. This paves the way to be working with our new owner and our franchisees on a stronger and more financially healthy HEMA.”
Established in 1926, the retailer currently operates more than 750 stores in nine countries. The company offers a range of products and services through 19,000 employees globally.