News

An Affiliate of Sun European Partners, LLP Completes Acquisition of V&D and La Place

AMSTERDAM Sun European Partners, LLP (“Sun European Partners”), the European adviser to Sun Capital Partners, Inc., announces that one of its affiliates has completed the acquisition of V&D B.V. (“V&D”) and La Place B.V. (“La Place”) from Maxeda Retail Group B.V. (‘Maxeda’).

V&D was founded in 1887 and is the largest department store chain in the Netherlands with approximately 62 branches. The company has particularly strong brand recognition in the Dutch market with more than 1.7 million visitors per week. La Place is a foodservice provider that operates both standalone locations and stores within V&D. La Place is the leading provider of fresh, natural foods and operates restaurants, cafes, sandwich shops, chocolateries, and other food stores.

After a comprehensive review of options – and taking into account the interests of all stakeholders – the boards of Maxeda, V&D and La Place are convinced that Sun European Partners offers the greatest potential for continuing the successful growth strategy of both V&D and La Place.

The Works Councils have reacted positively to the new owner and discussions with the trade unions involved have been very constructive.

Mark McKeon, CEO V&D/La Place: “I’m very proud of V&D and La Place and all our employees. In recent years, we’ve built a strong organisation together and we are looking forward to working with Sun European Partners. We’re convinced we will be able to continue our successful growth strategy and strive for market leadership in cooperation with our new partner. La Place will also be able to build further on its strong position. I see a bright future ahead for both V&D and La Place in implementing our exciting growth plans, together with Sun European Partners.”

Benjamin Buerstedde, Vice President of Sun European Partners, added: “This is a very exciting acquisition for Sun European Partners. Both V&D and La Place are well known household names in the Netherlands with excellent brands. With our experience in the retail and food sectors, V&D and La Place represent a significant opportunity for sustainable growth. We look forward to working with Mark and his entire team to achieve that.”

Tony DeNunzio, Executive Chairman of Maxeda: “With V&D and La Place, we are once again watching successful formats leaving the group. The fundamental steps towards renewal at V&D have been taken and our continuing support for the innovative capabilities of La Place means that these formats are ready to take the next step. We’re convinced that Sun European Partners is the right partner to bring V&D and La Place’s successful growth strategy to full fruition.”

More information:
Sun European Partners (Maitland)
Anthony Silverman
Rowan Brown
Tel: +44 (0)20 7379 5151

V&D & La Place
Public Relations
Sandy Perquin
Tel. + 31 (0)20 – 595 9460 / + 31 (0)6–46 087 441
e–mail: sandy.perquin@vd.nl

Maxeda
Corporate Communications
Claire Verhagen
Tel: + 31 (0)20–5490433 / + 31 (0)6–52 304 662
e–mail: claire.verhagen@maxeda.com

About Sun European Partners
Sun European Partners is the European adviser to Sun Capital Partners, Inc., a leading U.S.–based private investment firm focused on leveraged buyouts, equity, debt, and other investments in marketleading companies that can benefit from its in–house operating professionals and experience. Affiliates of Sun Capital Partners, Inc. have invested in more than 240 companies worldwide with combined sales in excess of $40 billion since the inception of Sun Capital Partners, Inc. in the U.S. in 1995. Sun Capital Partners, Inc. has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. Sun Capital Partners Inc. has related investments in the retail and restaurant industries. Its affiliated holdings include retailers such as Neckermann.de, Shopko, Gordmans and restaurants such as Garden Fresh and Friendly Ice Cream Corporation.