Investment company 3i, which owns Action, does not want to give up its interest in the non-food discounter. On the contrary, 3i even wants to expand its interest, but without paying for it itself.
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Dutch non-food discounter Action has achieved a 23 % sales growth last year, ending the year at 4.21 billion euros in sales. However, that was mostly done through opening new stores: comparable growth was 'only' 3.2 %.
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Investor 3i wants to keep a hold of Action after all. Even though the owner made it seem like it was looking for a buyer, 3i now denies it.
Action’s owner, investment firm 3i, aims to sell a part of the discount store chain next year. The Brits would want to sell a 35 % stake in the firm.
Action’s turnover grew 28 % last year, to 3.4 billion euro. The chain has a more international presence, but its growth pace is below that of previous years, when growth exceeded 30 %.
Store chain Action will make some changes to its top level management: merchandise director Simon Hathway will leave the company at the end of March and be replaced by Hajir Hajji, who will in turn be replaced by Bart Raeymaekers.
Tomorrow is a special day for Dutch discounter Action, as it will open its 1,000th store in Gorinchem (in the Netherlands). The number of Action stores has almost doubled in the last two years.
Dutch discount chain Action has had enormous success since its acquisition by investment firm 3i. It was the group’s best-performing company once more last year and sets its targets at a 10 billion euro turnover.
Dutch store chain Action has opened its first German distribution center near Mannheim, which will handle the entire supply chain for Germany, Austria and part of France.
According to British business bank Morgan Stanley, Benelux discounter Action is worth about 10 billion euro, a “conservative calculation”. Majority shareholder 3i’s share immediately skyrocketed.
Dutch discount chain Action had a very good year in 2016, with a 34 % turnover increase to 2.675 billion euro, mainly thanks to its enormous store network expansion.
Roland Berger’s consultants have highlighted five important trends for the future: digital competitors can become partners; low-cost chains are growing; the customer experience is becoming more important; big data’s potential is underestimated and robots are taking over stores.
Discount chain Action now also buys directly from of dozens of major brand manufacturers. It previously sold their products already, but almost always bought them off a secondary party.
Dutch discount chain Action will speed up its international growth pace, with more store openings planned than the 141 it had last year.
Dutch store chain Action saw its 2015 turnover grow 32 % to 1.99 billion euro, mainly thanks to a large number of new store openings in 2015.
Jef Colruyt, Colruyt Group's CEO, said he wants rules about the composition of household products. He fears customers will be tempted by cheap but, according to him, inferior products offered by price breakers.