PLUS announced the acquisition of 3 Jan Linders stores

25 Apr PLUS announced the acquisition of 3 Jan Linders stores

Axeco Corporate Finance is pleased to have advised the management team of PLUS

PLUS and Jan Linders have agreed on the intended purchase of three Jan Linders supermarkets. With this acquisition, PLUS strengthens its historically strong, local position in the southern part of the Netherlands. The Jan Linders stores in Boxmeer, Klimmen and Weert are included in the purchase.

Background to the transaction

Jan Linders has recently revealed a franchise deal with Albert Heijn, which led to the mandate of selling stores to competitors as instructed by competition authorities. Jan Linders has successfully found new owners for 10 of these stores, which will not be a part of the franchise agreement with Albert Heijn. Jumbo will acquire 6 stores, PLUS will acquire 3 stores, and ALDI will acquire 1 store. By the end of 2023, Jan Linders will be managing a total of 62 Albert Heijn stores.

Duncan Hoy, CEO of PLUS: said: “The Netherlands is becoming greener with the conversion of Coop stores to PLUS. We are proud that by adding these three stores, we can further strengthen our cooperative and introduce customers in these market areas to Good Food and all the beauty our formula offers.”

Ferry Moolenschot, the CEO of Jan Linders: said, “We have been searching for new owners for these stores who can provide a good future for our employees. We have now found them, and I have full confidence that they will do well with these formulas. We are working together with the new owners to ensure a smooth transition.”

The conversion of the three stores is expected to start in the second half of this year. This timing is subject to approval from the competition authority on Jan Linders’ side and, for both parties, a positive recommendation from the Works Council.

About PLUS

PLUS is the third-largest service supermarket in the Netherlands, with a market share of 10% and a consumer turnover of over €4.6 billion.

About Jan Linders

Jan Linders Supermarkets is a regional supermarket chain with a strong presence in the southeast of the Netherlands. With 63 stores as of December 2022, the company has been serving its customers since its founding by Jan Linders in 1963. Jan Linders continues as franchisee of Albert Heijn by the end of 2023.