A Belgian bathroom retailer has announced a significant shift in its ownership structure, bringing in investment fund Waterland as its new majority shareholder. The move involves founder Jan Ollevier and existing investor Vendis reducing their stakes to facilitate Waterland's majority position. This change is aimed at supporting the bathroom retailer, X2O's ambitious plans for international growth beyond its current markets.
Photo: X2O.
X2O, which operates in Belgium, Germany, and the Netherlands, reported sales of €180 million last year across its more than fifty showrooms and online platforms.
The company's CEO, Peter Demets, expressed enthusiasm about entering a new growth phase with Waterland in an article in Retail Detail, citing the investment fund's strong track record and strategic approach as key assets. Demets emphasised that the partnership would ensure continuity and support X2O's expansion efforts, enhancing the company's ability to deliver exceptional value and customer experiences.
Waterland's involvement is expected to boost X2O's efforts to extend its reach into new international markets, leveraging the investment fund's resources and expertise to accelerate the retailer's global ambitions.
Source: www.retaildetail.eu