• HEMA | October 2020

    Consortium of Parcom and Mississippi Ventures reach conditional agreement with HEMA’s bondholders regarding sale of HEMA

    A 50/50 consortium of Parcom and Mississippi Ventures has reached conditional agreement with HEMA B.V. and the Ad Hoc Group, representing a majority of HEMA’s senior secured bondholders, regarding the sale of HEMA B.V. During a period of up to 8 weeks the consortium has been granted exclusivity to perform further due diligence; secure bank financing from a group of Dutch financial institutions; and finalise the contemplated sale of 100% of the outstanding shares of HEMA.

    The 50/50 consortium of Parcom and Mississippi Ventures combines retail and management experience with entrepreneurial drive and business sense. The consortium sees great potential in HEMA. Both Parcom and Mississippi Ventures are impressed with the resilience and long-term perspective of HEMA’s management, supervisory board, the thousands of HEMA employees and millions of customers.

    For a successful finalisation of the transaction it is essential that the consortium will be able to obtain appropriate bank financing from Dutch financial institutions in order to ensure a comprehensive and sustainable long term foundation enabling HEMA to execute a future-proof business plan. It is the consortium’s intention to provide further updates on the transaction by the first half of December.

    About Mississippi Ventures

    Mississippi Ventures is the investment vehicle of the Dutch entrepreneurial Van Eerd family, which has been active on the (food) retail market for almost a century. With Jumbo Supermarkets, the Van Eerd family built the second largest supermarket chain in the Netherlands. Based on its omnichannel strategy and mind set, Jumbo offers customers the same brand experience throughout its different channels, such as Jumbo Supermarkets, Jumbo Foodmarkt, Jumbo.com, Jumbo City and La Place. With these various concepts integrated into one platform, Jumbo is further expanding its position in the Netherlands and started diversifying into Belgium since the beginning of 2019.