3i invests €200m for majority stake in Hans Anders

Oscar Geen
10 April 2017

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3i Group has acquired a majority stake in Dutch optical retailer Hans Anders from Alpha Private Equity and Alpinvest for €200m.

The acquisition of Hans Anders is part of 3i's consumer strategy to take advantage of long-term trends such as an aging population and increasing focus on the value-for-money segment, the GP said. 3i will make this investment from its balance sheet.

Other investments following this strategy include dutch retailer Action, which was purchased in 2011 and refinanced in December 2016, as well as Basic-Fit fitness group, bought for €110m in November 2013 and listed via an IPO in June 2016.

Previous funding
Comnaar Investments and Gilde Investment Management acquired Hans Anders from Retail Network in November 2004. They then sold the company in 2011 to Alpha Private Equity and Alpinvest for an estimated €230m.

Company
Hans Anders is an international optical retailer founded in the Netherlands in 1982. It operates 253 stores in the Netherlands, 105 in Belgium, 62 in France and 36 in Sweden and employs around 1,500 people. The company achieved sales of €192m in the last fiscal year ending in January 2017. It has achieved average annual revenue growth of 10% since 2013.

People
3i Group – Robert Van Goethem (partner).
Hans Anders – Remco Boerefijn (CEO).

Advisers
Equity - Clifford Chance (legal); PwC (tax).