Lion Capital puts Dutch retailer Hema up for sale

epa04252095 A customer leaves the Dutch store chain Hema in London, Britain 12 June 2014. The budget retailer Hema has opened its first UK branch in the Victoria district of London on 12 June.  EPA/FACUNDO ARRIZABALAGA

Bloomberg

Hema, a 91-year-old Dutch retailer known for design housewares, is for sale. Private equity firm Lion Capital LLP, which bought the chain a decade ago, is considering strategic options for Hema and appointed Credit Suisse Group as an adviser to a possible sale, the Amsterdam-based retailer said.
Hema, which opened its first store in 1926 in Amsterdam, owns more than 700 stores in seven countries. With a focus on the Netherlands, Belgium and France, it has been expanding more abroad in recent years in markets including the UK and Spain.
Several parties have expressed interest in the company and an initial public offering is also an option, Hema Chief Executive Officer Tjeerd Jegen said in an interview. He added that he’d like to keep leading the company and that Hema could be sold to a retailer or a private equity company.
While Hema’s stores are smaller than Target Corp.’s, the Dutch retailer has a similar product offering, ranging from baby clothes and cooking utensils to stationery and party decorations. Many items are emblazoned with cartoon silhouettes of a boy and girl named Jip and Janneke, well-known in the Netherlands. Hema has had 10 consecutive quarters of like-for-like sales growth and six quarters of adjusted Ebitda growth.

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