The Netherlands Authority for Consumers & Markets (ACM) has approved the proposed merger of Bruna and Audax Group this week. In addition, Shared Stories Group (SSG) and Audax Group today completed the acquisition.
In December 2019 SSG, which owns 100 per cent of Bruna, announced together with Audax the intended joint merger. Bruna has 273 retail branches across the Netherlands, which are mainly franchises. Approximately 85 people work at its head office. The combined turnover of both organizations is EUR 350 million; they employ 1,700 and there are 1,300 retail network points-of-sale. Bruna will remain active on the Dutch market under its own name.
“Joining forces is a next step in the development of Audax as a family business. With its strong foundation in magazines and books, we are ready for a new future.”Hubert de Leeuw, Chairman of the Board of Directors of Audax Group
“The completion of the acquisition signals the start of the actual integration of the companies. We expect to complete the merger of teams, processes and systems in June.”Casper de Nooijer, CEO of Audax Groep
“The retail formula of Bruna fits seamlessly within the portfolio of Audax and can further develop through the strength of Audax’ retail chains. We are pleased that we can now start with the integration.”Stefan Hutten, current CEO of Bruna and future CCO and member of the Board of Directors of Audax Group
Bruna is a leading brand of the Audax Group
Audax Groep – a business platform for retail logistics — focuses on creating, marketing, distributing and selling magazines, books and other everyday products and services. Under the umbrella corporation of Audax Group, its active franchise brands are AKO, The Read Shop, Marskramer, Plantage and Toys2Play. Bruna will become a leading brand under the flag of Audax Group. Both parties expect to operate stronger and more efficiently in the market thanks to economies of scale, greater purchasing power and combined expertise. This merger ensures optimization and leverage across the combined retail network in cities, villages and in high traffic locations such as train stations and airports.