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Blokker Holding sold its German Xenos activities to German chain TEDi. Hobby store chain Xenos has 63 German stores, which will all be transformed into TEDi stores.
Ambitious TEDi
The acquisition is part of Blokker Holding’s new strategy, which is to sell every chain aside from Blokker itself. It still needs to find a buyer for Xenos’ Dutch stores however. “This deal enables us to turn our attention to Xenos’ Dutch division. We will continue to work on a strong commercial position and an excellent preparation for Xenos Netherlands’ future sale”, CFO Jeroen Visser said. The acquisition also transfers every employee to the new owner.
The deal is also part of TEDi’s planned expansion strategy: “Xenos Germany’s acquisition is an excellent opportunity for TEDi to achieve its ambitious growth plans. We aim to open about 150 German stores every year and our total European store network should reach 5,000 in a few years. The acquisition grants us access to stores at prime locations”, TEDi’s chairman, Silvan Wohlfarth, said.
The chain currently has 1,800 and 14,000 employees in six European countries. It is not only active in Germany, but also in Croatia, Austria, Slovakia, Slovenia and Spain. It will also add Poland, Portugal and Italy next year.
