The owner of Dutch retail chain Action, British investment company 3i, announced in its half-yearly figures that the discounter is now worth more than 10 billion euros. Last year, the value of the retailer was estimated at 'just' 6.5 billion.
Transfer of shares
The amount of 10.25 billion is based on an actual sale of shares: some smaller shareholders wanted to cash in on their profits. Taking their place were new investors, Dutch business newspaper FD writes. Action’s expansion is in stark contrast to the situation in which retailers such as Blokker and Hema find themselves, impacted by large losses and a heavy burden of debt.
Over the first ten months of the year, Action grew by 5.6 % on a comparable basis. The store network grew by 148, bringing the total to 1,473 stores in seven countries. It also opened three new distribution centres this year, one of which is in Poland. Next year, Action is set to open two more warehouses in Slovakia and France.