The Netherlands Financial Markets Authority (AFM) has now granted permission for the acquisition, according to an acquirer’s report. A positive response is expected from Brussels on one of these days.
However, the official takeover date will likely be in the first week of February. The most striking change is the appointment of a new CEO: Saskia Egas Reparaz.
She still runs the pharmacy chain Etos, which is part of Ahold Delhaize. Parcom and Mississippi Ventures write that they have great confidence in and leadership of Egas Reparaz.
Egas Reparaz’s arrival also means current CEO Tjeerd Jegen will be looking for another job. Jeegen himself describes the takeover as “a natural moment to make room for new leadership.” Parcom / Jumbo combination is the fourth HEMA owner since taking over leadership in 2015.
This was the main consideration for leaving, says a HEMA spokesperson. She asserts that the exit direction does not have “hard feelings.” “It came at a good time, in conversations with buyers, not much was said about it.”
The spokesperson said that EGAS Riparaz is expected to rise before the summer. “She is now the official CEO of Etos, which should be finalized first.”
Under Jegen’s leadership, the typical Dutch HEMA went on an expedition out of Europe. In America and Canada, for example, it has partnered with supermarket giant Walmart under the name “HEMA Amsterdam”.
Jegen also focused on expanding in the east. In the fall of 2019, he was hoping to open 50 additional stores in the Middle East, to advance to urban areas of Thailand and India. The store is currently active in Mexico and the United Arab Emirates, among others.
Whether the Van Eerd and Parcom family share this drive to expand is unclear but unlikely. “We will focus more definitely on the domestic markets: the Netherlands, Belgium and France,” Jumbo-CFO Ton van Veen said last October, when the acquisition was announced.
The Supervisory Board (SB) at HEMA is also in a state of shake. Peter Haas was recently appointed president. His predecessor Wilko Jescott is still involved as a member, just like Ronald Van de Vys.
Earlier this month, it was announced that Supervisory Board member Jan Zederfield would be leaving. The last veteran, Doreen Woking, was not required to join the board under the supervision of the new owners.
New to the board are Ton van Veen (on behalf of Mississippi Ventures) and Bas Becks (on behalf of Parcom).