🠈  Maxeda  🠊

Maxeda DIY Group

Maxeda DIY Group is a chain of stores based in the Netherlands. The company was once a huge conglomerate called Vendex. KKR broke up Vendex so that Maxeda could concentrate on the DIY market.

I admit, my primary interest in researching this merger chain was the role that Vendex (the predecessor of Maxeda) played in the growth of GameStop.

Merger Chain

• 1887: Vroom & Dreesmann (V&D) opened in Amsterdam.
• 1926: Hollandsche Eenheidsprijzen Maatschappij Amsterdam (aka HEMA) was founded in Amsterdam as a variety store.
• WWII: The Nazis killed many of the empoloyees of HEMA.
• 197?: The Netherlands dramatically raised taxes on corporations forcing companies to move assets abroad.
• 1973: The company created Vendex and reorganized stores into a centralized structure. The US subsidiary took the name Vendamerica.
• 1978: Vendex invested $24 million in for more than one million non-voting shares of stock; in return, Dreesmann was made a member of Dillard's Board of Directors. In 1979 Dreesmann purchased Ultralar, a major Brazilian
• 1982: Vendex changed its name to Vendex International.
• 1987: Vroom & Dressmann launched a chain of in store restaurants called La Place.
• 1999: Vendex merged with Koninklijke Bijenkorf Beheer to create Vendex KBB NV.
• 2004: Kohlberg Kravis Roberts & Co acquired Vendex KBB NV.
• 2006: The company changed its name to Maxeda.
• 2007: The British-based firm Lion Capital acquired Maxeda. Analyst estimate the undisclosed sale was worth about €1.3 billion.
• 2007: Vroom and Dreesmann rebranded as V&D
• 2010: Sun Capital Partners acquired V&D and La Place.
• 2010: Selfridges Group acquired de Bijenkorf.
• 2010: PAI Partners acquired Hunkemöller (which sold lingerie).
• 2011: Excellent Retail Brands acquired M&S Mode which had 417 stores.
• 2016: Ardian and Goldentree converted their loans to Maxeda into share and became joint owners with KKR.