The Dutch retail group, Maxeda, has assigned Rothschild bank the task of selling its 138 Brico and 14 BricoPlanit stores in Belgium, according to reports from L'Echo and De Tijd on Thursday.
The sale is likely to proceed piecemeal, despite involving the whole group.
Maxeda operates 344 shops throughout Benelux, with these stores generating an annual combined turnover of over €1.5 billion and employing around 6,700 people, solidifying Maxeda's position as the leading retailer in Benelux. In Belgium, 81 of the total 138 Brico stores are managed by franchisees, while the remaining – including the 14 BricoPlanit stores – are directly managed by Maxeda.
Brico and BricoPlanit together had a combined turnover of €808 million in 2022 and 2023, giving them a substantial 40% market share of the Belgian DIY market. Maxeda, however, did not confirm or deny its intention to sell the Belgian stores. "We don’t comment on rumours and speculations," responded a spokesperson.
The Dutch company has been owned by financial investors GoldenTree and Ardian since 2015. Private equity giants KKR and Alpinvest are also shareholders.
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Maxeda previously attempted to sell its Belgian stores about a decade ago. However, that attempt proved unsuccessful due to a lack of interest.
According to Socialist trade union SETCa/BBTK, an extraordinary enterprise council meeting for Brico was held on Thursday morning at the request of trade unions.
The representative workers' organisation stated that the chain has been on sale for some time now.
