Number of HEMA stores in Europe 2010-2019

In 2019, HEMA owned over 760 stores across two continents. HEMA, an abbreviation for Hollandsche Eenheidsprijzen Maatschappij Amsterdam, is a Dutch retail chain characterized for its generic housewares. With their original product designs and relatively low pricing, it is a well-known and respected brand within the Netherlands. From 1984 HEMA expanded to Belgium, Germany, Austria, Luxembourg, France, Spain and the United Arab Emirates. In terms of the number of employees in 2019, HEMA employed over 9,500 people in the Netherlands, whereas Belgium and France had about 900 and 700 employees, respectively.HEMA and Lion’s Capital HEMA used to be part of Maxeda, a group owned by the private equity firm Kohlberg Kravis Roberts & Co (KKR), but in 2007 the company was sold by KKR to Lion’s Capital, another private equity firm from the United Kingdom. After three years, Lion’s Capital decided to sell HEMA to gain a financial benefit, but an acquisition deal with several potential buyers including Ahold (parent company of e.g. Albert Heijn supermarkets, drugstore Etos etc) came to an early end. Afterwards, Lion’s Capital could not find another buyer and the economic recession partially caused a decline in HEMA’s financial performances. The EBITDA of HEMA went from 157 million euros in 2010 to 86 million euros in 2015, and therefore became less attractive for potential buyers. With their financial problems, argues with franchisers, the rise of discounters like Action and the difficult interrelationship with Lion’s Capital, it became clear that the earlier successes of HEMA was not cast in stone. Back in Dutch hands After a failed acquisition deal with a Jordan sheikh in 2016 and Core Equity in the spring of 2018, Investor Marcel Boekhoorn decided to buy HEMA and the retail chain came back in Dutch hands. Nevertheless, the company had an excessive indebtedness due to the way Lion’s Capital financed the retailer. In 2018, the sale of HEMA resulted in a goodwill impairment of 226.3 million euros, which is the year HEMA recorded a net loss of just over 230 million euros.

于2019年，荷兰零售连锁巨头HEMA在两大洲范围内拥有超过760家门店。作为阿姆斯特丹荷兰统一价格协会（Hollandsche Eenheidsprijzen Maatschappij Amsterdam）的简称，HEMA以其通用的家居用品而著称。凭借其原创产品设计及相对低廉的定价策略，该品牌在荷兰享有盛誉并备受尊敬。自1984年起，HEMA已扩张至比利时、德国、奥地利、卢森堡、法国、西班牙和阿联酋。在2019年，HEMA在荷兰的员工人数超过9,500人，而比利时和法国的员工人数分别约为900人和700人。HEMA与Lion’s Capital曾是Maxeda集团的一部分，Maxeda集团由私募股权公司柯尔伯格·克拉维斯·罗伯茨公司（Kohlberg Kravis Roberts & Co, 简称KKR）所有，但在2007年，KKR将公司出售给了另一家英国私募股权公司Lion’s Capital。三年后，Lion’s Capital决定出售HEMA以获取财务收益，但与包括阿霍德（Albert Heijn超市、药店Etos等公司的母公司）在内的几家潜在买家的收购协议提前终止。此后，Lion’s Capital未能找到其他买家，经济衰退部分导致了HEMA财务表现的下滑。2010年HEMA的EBITDA为1.57亿欧元，至2015年降至8,600万欧元，因此对潜在买家来说吸引力降低。面对财务困境、与特许经营商的争执、折扣店如Action的崛起以及与Lion’s Capital的复杂关系，HEMA早期取得的成就并非不可动摇。回归荷兰本土之手在2016年与约旦谢赫以及2018年春季与Core Equity的收购失败后，投资者Marcel Boekhoorn决定收购HEMA，使得这家零售连锁品牌重新回到了荷兰人的手中。尽管如此，由于Lion’s Capital对零售商的融资方式，公司仍背负着过度的债务。2018年，HEMA的商誉减损达到了2.263亿欧元，同年，HEMA的净亏损超过2.3亿欧元。