The owner of UK department store chain Selfridges has snapped up de Bijenkorf, the Dutch luxury department store chain, for an undisclosed sum from Dutch retail group Maxeda.
Selfridges Group, a subsidiary of Canadian retail investor Galen Weston’s Wittington Investments, expects to complete the deal early next year. The 12-strong chain has stores across Holland, including Amsterdam, and a transactional website, which was launched in March 2009.
Jacob de Jonge, chief executive of de Bijenkorf, said in a statement: “[The chain] has strengthened its position as a premium department store with the arrival of new luxury brands. In the coming years, there will be a strong emphasis on strengthening the brand portfolio and de Bijenkorf [private brands].”
W. Galen Weston, Chairman of Selfridges Group, said the move was part of the company’s plans to own and operate luxury department stores in key markets. “De Bijenkorf is an excellent addition to our portfolio of international stores,” he said. “This is an exciting opportunity for us to expand in Europe.”
Selfridges Group, run by managing director Paul Kelly, operates the four UK Selfridges stores, Irish department store Brown Thomas and Canadian department store chain Holt Renfrew. Following the completion of the de Bijenkorf deal, it will have a turnover of £2bn.