DIY group Maxeda, which owns chains like Brico and Praxis, has sold the majority of its shares to the French investor Ardian and the American Goldentree Asset Management group.
Lower debt through sales
To lower its debt with these two investors, Maxeda has now struck a deal where it has given them a majority stake in return for lower debts. Previously, the company had to cancel a Maxeda sale as there was no decent bid.
Up until now investment firms KKR and Permira owned Maxeda, but after a possible sale failed, they decided to invest even more. That led to a new organisational structure and both also invested in new formulas like "Praxis om de hoek" (Praxis around the corner).
Maxeda has more than 375 stores in the Benelux area and generates a yearly 1.3 billion euro turnover.