Merger Dutch Retail Organizations Enters Final Stage
AMERSFOORT, the Netherlands – The planned merger of the largest Dutch retail organizations – Biretco and Bike Totaal – is getting close to be finalized; that is when the shareholders agree to all conditions. Last week all Bike Totaal and Biretco members were informed that the due diligence is nearly finished.
It is expected that the proposed transaction and merger conditions are to be submitted to the shareholders by the end of this month. The combined organization would include a chain of 750 shops in the Netherlands, Belgium and Germany with a turnover of 350 million euro.
The proposed combination of the Biretco and Bike Totaal activities is considered to be a strategic move: “To build scale in a consolidating market. With the new organization created, the economies of scale and the investment capacity arises that both Bike Totaal and Biretco deem appropriate to continue professionalization of their service at a cost-effective level,” said an earlier press release.
If the new company is established, the headquarters of the new company will be located in Amersfoort, The Netherlands. The management will include CEO Maarten de Vos (now Bike Total CEO) and Chief Financial Officer Erik de Geus (now Biretco GM).