Tom&Co, a Belgian retailer, signed a contract to allure Verlinvest as a stakeholder in the retailer chain by maintaining the current management team. The authorities must now permit the deal of which no further detail has been disclosed.
“With the support of this new shareholder, we will be able to actively participate in the consolidation of the sector through acquisitions and thus achieve our ambition to become a leader in the European market”, said CEO Thierry Le Grelle.
Currently operating 129 stores in Belgium, 49 in France, and 2 in Luxemburg, the company hopes for further expansion in the Benelux regions from this investment and to become a “strong European challenger”.
According to an interview of COO Maud Leschevin, the company’s plan is “to increase the number of shops to 250 by 2026”, mainly in France.
“We are going to become more aggressive online in both food and non-food,” explained Leschevin the established omnichannel strategy.
Furthermore, the company intends to push its private label brands as well as its digital footprint. In 2021, Tom&Co could record a sales increase of 10% (€264 million ($283M). Besides the current situation, the company watches the same trend this year.