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Belgian retailer Colruyt Group is selling its baby store chain Dreambaby to Supra Bazar. That family-owned group will help the chain towards “a healthy and sustainable future”.
27 stores
Colruyt Group continues the process of divesting its entities that are not in its core business: after the partial sale of Dreamland to ToyChamp in April last year, the Belgian retailer now announces the complete sale of Dreambaby to Supra Bazar subject to approval by the Belgian competition agency. Neither party has divulged any financial details. If all goes well, the deal will be finalised by the summer.
Nothing will change for Dreambaby’s customers, the company stresses in a press release. All shops will remain open, the 256 employees are all kept on board and all birth lists will continue. Dreambaby has 27 shops in Belgium and achieved sixty million euros in revenue last financial year.
Major step
Supra Bazar was founded sixty years ago by the Vanhalst family, who still controls the company. The chain consists of five large non-food shops in West Flanders and East Flanders, but the retailer also operates two higher-end concept shops called Kabine. The Vanhalst family calls Dreambaby complementary to its current business: “Like Colruyt Group, Supra Bazar believes it is important to play a role in every stage of life and at all the important moments in its customers’ lives”.
“For us, this is the perfect opportunity to take a major step to become nationwide with this baby market that is so interesting and indispensable to us. And customers will of course be able to continue to count on the good support they are used to from Dreambaby”, CEO Bavo Vanhalst said.
A few years ago, Supra Bazar was the subject of a criminal investigation into tax fraud. However, nothing has been heard about that since.
