Store chain Big Bazar gets a new owner: BB Retail. The discount formula is still in the hands of Mirage Retail Group (MRG), parent company of Blokker, BCC and Intertoys, among others. MRG believes that Big Bazar’s 135 stores no longer fit in with the company’s vision for the future. The sale would have no consequences for the 1750 employees.
Big Bazar only has physical stores and MRG wants to focus in particular on retail formulas that use the combination of online, click & collect and physical shopping. The new owner BB Retail is a trade organization founded by Heerke Kooistra, with expertise in the field of purchasing and discount. According to Mirage, this creates new opportunities for Big Bazar to further expand the formula. The transaction is expected to close in early November.
Big Bazar was founded in 2007 and has 135 stores, spread over the Netherlands and Belgium. The discount formula is seen as Action’s major competitor. “We see tremendous opportunities for the Big Bazar formula and are excited to leverage our sourcing expertise to capitalize on them. By adding a new range, we can improve the strength of the formula and further expand the existing customer base,” says Heerke Kooistra.
According to MRG CEO Michiel Witteveen, the decision to sell Big Bazar creates more room to focus on formulas in which the combination of stores, the online channel and customer service play an important role. According to MRG, the sale to BB Retail has no consequences for the 1750 employees who are employed by Big Bazar. “Part of the deal is that everyone will transfer to the new owner, there will be no layoffs.”
MRG originated from the former Blokker Holding and with several chains is a major player in the Dutch shopping streets. The company is working on an IPO, which should take place next year.
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