ACM, the Dutch competition authority, has approved the acquisition of the remaining shares in Hema by the Van Eerd family. However, the deal is not yet complete: the Belgian competition authority and Hema’s works council still have to give their approval.
“Sufficient choice”
In September, investment fund Parcom announced that it would sell its 50% stake in department store chain Hema to Mississippi Ventures, the investment vehicle of the Van Eerd family, which also owns supermarket chain Jumbo. Both chains will continue to operate independently, but can reinforce each other, the press release said at the time.
The competition authority ACM has looked at the consequences for competition in the Netherlands and sees no problems. “Jumbo mainly sells everyday consumer goods to consumers through its supermarkets, while Hema, as a department store, mainly sells non-food products, including clothing, household textiles, and office supplies. Because Jumbo and Hema offer largely different products, there will still be sufficient choice for consumers even after the takeover.”
The company now awaits the decision of the Belgian competition authority and the works council.
