Beter Bed Holding strengthens European position with acquisition of Sängjätten in Sweden
Sängjätten is a Swedish value-for-money retailer of box springs, beds and bed textiles and the acquisition of 25 Sängjätten stores gives Beter Bed Holding access to the Swedish market.
Beter Bed Holding announces that it has reached agreement in principle for the acquisition of Sängjätten. This leading Swedish value-for-money retailer in box springs, beds and bed textiles has 16 own stores in Sweden, 50 employees and annual revenue of approximately € 10 million. The company also has a franchise network with nine stores at its disposal. The acquisition concerns the most important assets of the company.
Ton Anbeek, Chief Executive Officer: ‘We are pleased to announce the acquisition of Sängjätten. The company fits perfectly into our European expansion strategy, and gives Beter Bed Holding better access to the attractive Swedish market and more generally to the Scandinavian market. With 25 stores at key Swedish retail locations, Beter Bed Holding will be one of the leading players in the Swedish market. The acquisition also gives us a platform for further expansion in Sweden in the coming years.’
The Sängjätten formula corresponds with Beter Bed’s business model and retail format, meaning that operational, commercial and financial synergy can be achieved. The Sängjätten stores will be gradually converted in the coming year. The Sängjätten name will be retained.
Beter Bed Holding will finance the acquisition from its own resources. The acquisition is expected to be finalised in the third quarter of 2016 and is subject to certain suspensive conditions.
Beter Bed Holding is a European retail organisation that strives to offer its customers a comfortable and healthy night’s rest every night at an affordable price. The company does this via stores and its own webshops through the formulas:
• Matratzen Concord, located in Germany, Switzerland and Austria.
• Beter Bed, located in the Netherlands and Belgium.
• Beddenreus, located in the Netherlands.
• El Gigante del Colchón, located in Spain.
• Literie Concorde, located in France.
The retail formulas ensure products of good quality, offer better advice than their competitors and always offer the best possible deal.
Beter Bed Holding is also active as a wholesaler of branded products in the bedroom furnishing sector via its subsidiary DBC International. The international brand M Line is sold in the Netherlands, Germany, Belgium, Austria, Switzerland, Spain and France
At the end of March 2016 the total number of stores was 1,151. In 2015, the company achieved net revenue of € 385.4 million. 70.1% of this figure was realised outside the Netherlands.
Beter Bed Holding N.V. has been listed on the Euronext Amsterdam since December 1996 and its shares (BBED NL0000339703) have been included in the AScX Index.