French group Fnac Darty has an agreement with Mirage Retail Group on the sale of the Dutch electronics retailer BCC, allegedly for a symbolic sum.
62 physical shops
Early this year, Fnac Darty announced that it was looking for a partner for its Dutch subsidiary BCC, which operates 62 physical shops and has a turnover of around one billion euros. "This came our way," says Mirage top executive Michiel Witteveen at Het Parool. "We were informed by ABN Amro, our principal banker. They pointed us to BCC, which was officially on sale. We responded and started discussions with the owner and the management." According to the entrepreneur, the electrical chain fits in well with the non-food strategy of Mirage Retail Group, which, in addition to Blokker, also operates the Big Bazar and Intertoys formulas.
BCC, short for ‘Bakker Cash & Carry’, has been in existence since 1969 and is the largest electrical chain in the Netherlands in number of stores. In 1995 the company came into the hands of the French company Darty, which in turn merged in 2015 with sector colleague Fnac. But BCC was always able to sail a relatively independent course within the group. That will also facilitate the integration within Mirage Retail Group.
The transaction still needs to be officially approved and will probably be completed in the fourth quarter.