Nick Wilkinson, group managing director of DSGi’s emerging business division, will leave next month to team up with former Asda boss Tony DeNunzio at private equity-backed Dutch retailer Maxeda.
Wilkinson will head Maxeda’s DIY division, comprising the Praxis and Formido chains in the Netherlands and Belgian store groups Brico and Brico Plan-It.He will play a key role in driving the performance of Maxeda - formerly called Vendex - ahead of a potential IPO on the Amsterdam Stock Exchange within the next three years.
There has also been speculation that the DIY arm may be floated in its own right.DeNunzio said: ‘Nick brings a wealth of experience in marketing, strategy and purchasing, which will contribute to the growth of our DIY group.’One international retail source said: ‘The DIY division is one of the jewels in the crown of Maxeda and has a lot of potential.’
The 335-store DIY arm generated sales of 729 million (488.6 million) in the first half, achieving operating EBITDA of 75 million (50.3 million). Maxeda operates in six European countries.
The group was bought by a consortium led by private equity firm KKR for 1.4 billion (939.2 million) in 2004. Permira is also an investor.DSGi has not yet revealed who will replace Wilkinson. He was placed at Maxeda by headhunter Heidrick & Struggles, which also put DeNunzio into his role there.
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