Beter Bed Holding sells Spanish operation El Gigante del Colchón

As part of the strategic review and following the announcement made on July 27^th with regard to the Spanish operation, Beter Bed Holding announces the sale of the operations of El Gigante del Colchón.

All 42 stores and all employees related to the operation will be transferred to Evolución del Descanso, effective November 1^st 2018.

The sale of El Gigante del Colchón will have a positive 2019 EBIT impact of approximately € 2 million compared to 2018.

John Kruijssen on the divestment of the Spanish operation: ‘We are pleased with the fact that we found a professional group, established in the industry, to take over our operation in Spain. This allows Beter Bed Holding to continue and further intensify the focus on our remaining businesses. As announced earlier, additional plans will be revealed on our Capital Markets Day on October 26^th 2018.’

It has been agreed with the buyer that no transaction details will be published.

Profile

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 retail formats ensure products of good quality, offer customers the best advice and always 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 (M line).

In 2017, the company achieved revenue of € 416.4 million with a total of 1,188 stores. 64.2% of this figure was realised outside the Netherlands.

 

For more information:

John Kruijssen                                                 Hugo van den Ochtend

CEO                                                                CFO    

+31 (0)413 338819                                         +31 (0)413 338819       

+31 (0)6 13211011                                         +31 (0)6 25746309       

                                     

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