Number of HEMA stores in Europe 2008-2018
Number of HEMA stores in Europe from 2008 to 2018*
HEMA, an abbreviation for Hollandsche Eenheidsprijzen Maatschappij Amsterdam, is a Dutch retail chain characterized for its generic housewares. With their original product designs and relatively low pricing, it is a well-known and respected brand within the Netherlands. From 1984 HEMA expanded to Belgium, Germany, Austria, Luxembourg, France, Spain and the United Arab Emirates. In 2018, HEMA owned 760 stores across two continents. In terms of the number of employees, HEMA employed approximately 9,500 people in the Netherlands, whereas Belgium and France had 936 and 694 employees, respectively.
HEMA and Lion’s Capital
HEMA used to be part of Maxeda, a group owned by the private equity firm Kohlberg Kravis Roberts & Co (KKR), but in 2007 the company was sold by KKR to Lion’s Capital, another private equity firm from the United Kingdom. After three years, Lion’s Capital decided to sell HEMA to gain a financial benefit, but an acquisition deal with several potential buyers including Ahold (parent company of e.g. Albert Heijn supermarkets, drugstore Etos etc) came to an early end. Afterwards, Lion’s Capital could not find another buyer and the economic recession partially caused a decline in HEMA’s financial performances. The EBITDA of HEMA went from 157 million euros in 2010 to 86 million euros in 2015, and therefore became less attractive for potential buyers. With their financial problems, argues with franchisers, the rise of discounters like Action and the difficult interrelationship with Lion’s Capital, it became clear that the earlier successes of HEMA was not cast in stone.
Back in Dutch hands
After a failed acquisition deal with a Jordan sheikh in 2016 and Core Equity in the spring of 2018, Investor Marcel Boekhoorn decided to buy HEMA and the retail chain came back in Dutch hands. Nevertheless, the company had an excessive indebtedness due to the way Lion’s Capital financed the retailer. In 2018, the sale of HEMA resulted in a goodwill impairment of 226.3 million euros, and HEMA recorded a net loss of 232.9 million euros in the latter year.
Number of HEMA stores in Europe from 2008 to 2018*
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Statistics on "Department stores in the Netherlands"
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