Macintosh sells Kwantum to investor

Macintosh sells Kwantum to investor

Dutch Macintosh Retail Group has finally found a buyer for its interior design store chain Kwantum: investor Gilde Equity Management. Nothing will change for Kwantum employees at this point.

Clear debts

The Kwantum sale will retroactively take place on 1 January 2015 and will create a 28 million euro net profit for Macintosh, resulting in an accounting profit of 1 million euro.

 

The chain's board will stay on and no employees will be laid off. "Gilde will fully support Kwantum in its drive to invest into the chain formula", Macintosh said in a press release.

 

The profit from the Kwantum sale will be used to clear debts, similarly to how Nea International and Fashion UK's sales were used to clear other debts.

 

"Our altered strategic focus on the shoe market in the Benelux has now been finalized through the sale of Kwantum. Now we can fully focus on getting back on track in the Benelux. One way of doing so is to make streamline our operations and organizations in the short-term. The profit from Kwantum, Nea International and Fashion UK will lower our net debt by some 64 million euro", CEO Kurt Staelens said.

Questions or comments? Please feel free to contact the editors


Europe will investigate Ikea's tax constructions

18/12/2017

The European Commission has officially opened an investigation into Swedish furniture chain Ikea’s tax constructions. The company has a main office in the Netherlands, but also circulates its profits to Liechtenstein and Luxembourg.

JYSK published record results once more

01/12/2017

Danish JYSK published a record 3.36 billion euro turnover in its 2016-2017 fiscal year. Backed by more than 2,500 stores worldwide, it achieved yet another record.

Ikea opens two Belgian hotels in 2019

01/12/2017

Swedish furniture chain Ikea will open two hotels in 2019, one in Antwerp and one in Ghent. Hotel chain Moxy, which it set up together with Marriot, is already present in New York, Paris, Tokyo, Chicago and London.

Ikea will invest in more Citystores

29/11/2017

Ikea wants to open smaller stores in city centers, starting in 2019. These stores should attract people without cars, a move that should tap into the world’s rapid urbanization and digitization.

CASA further expands web shop

24/11/2017

Interior design store chain CASA continues the rollout of its “click & collect” web shops. It already implemented this new formula in Belgium, France and Luxembourg, but will now tackle Switzerland, Spain and Portugal.

Amazon launches first own furniture brand

08/11/2017

American eCommerce giant Amazon has once more launched new private labels. This time, it has entered the sports clothing and furniture industries with its own brands.

Back to top