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Hema's new owner, Marcel Boekhoorn, wants to focus more on foreign countries. To pay for expansion abroad, a large number of retail businesses are sold.
This is explained by anonymous sources of the financial sector in relation to Het Financieele Dagblad. Once the last signatures have been defined and Boekhoorn can formally own the Hema, he intends to sell as many commercial properties as possible to franchisees. It is likely in January 2019.
Hema has 545 stores in the Netherlands. 261 buildings already belong to about 100 franchisees. Boekhoorn said from the outset that he wanted to "drastically" reduce the group's debt. "This burden of lead is growth, it prevents the optimal use of the strength of the very strong brand Hema," he said firmly.
Hundreds of millions
Hema has 750 million euros in outstanding loans. The sale of Hema 's buildings could yield a few hundred million euros. That Boekhoorn sells the 284 retail premises is uncertain. He will probably want to keep his most expensive buildings and the most profitable shops in big cities. According to insiders, the smaller Hema stores in the provinces can earn from 1 to 1.5 million euros each.
As far as we know, Hema had not yet offered his own premises. The owner, Lion Capital, may have already tried to collect future rental income earlier, but the business committee defended it.
Remarkable
Sales of Hema stores to franchisees remain remarkable. It was not so long ago that Hema literally talked to franchisees critics after waiting for trials. Now, these same franchisors should pull the ship again smoothly.
British Lion Capital considered independent contractors as the biggest stumbling block in the sales process. A glaring quarrel over the distribution of revenues from Web Hema sales was totally out of control this year. The Belgian Core Equity investment fund was almost round with LionCapital, but would have declined when it became apparent that franchisees had interests other than those of management.
Genius Plan
Paul Moers, retail expert, talks about a genius plan. "By selling the stores to the franchisees, Hema is free to invest in renewing the formula – for example, innovation in the Netherlands can be handled much more quickly." Moers does not appreciate the idea of using the money to extend the Hema formula abroad. "You must first have your home base in order.
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