Avedon exits Euretco to EK/Service group

The remaining 25% will be held by STAK-Intres, another Netherlands-based retail cooperative that had merged with Euretco 2011.

The divestment takes place more than seven years after the VC house, alongside management, acquired a stake in Euretco from Gilde, Halder Invest and the former management team. The SBO, completed in January 2008, was thought to be valued between €50-100m, according to unquote" data.

Avedon since supported Euretco's targeted acquisition strategy – including Intres in 2012 and the DGN Retail group, comprising DIY brands Hubo, Multimate and Fixet.

The cooperative resulting from the trade sale will manage a network of 4,100 affiliated retailers, together representing €2.2bn in purchasing turnover and €6.3bn in consumer revenue, according to the VC. 

Company
Founded in 1936 as Samen Sterk, Euretco was borne out of the merger between the Samen Sterk and Nederland in 1991.

Headquartered in Hoevelaken, the Netherlands, the business employs 385 people and provides retail, franchise, wholesale and financial services to a network of around 2,900 stores and franchises in the country. The retailers backed by Euretco represent €2.3bn in aggregated consumer revenue.

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• Topics
• Exits
• Benelux
• Consumer
• Netherlands
• Trade sale