Hagemeyer NV sold to Rexel

By Chris Nicholls

SYDNEY: Hagemeyer Brands Australia has announced its parent company has changed from Hagemeyer NV to electronics supplier Rexel, following the Dutch parent’s purchase.

Rexel purchased 98.67 per cent of Hagemeyer’s shares and 100 per cent of its bonds in a deal made public late last month but restricted to countries other than Australia, Japan, Italy, Canada and the US.

Paris-based Rexel posted pro-rata sales of Euro 14.3 billion in 2007, following the Hagemeyer purchase, and is present in 34 countries and employs 34,800 people. The Rexel Group’s Australian operation includes electrical suppliers such as Rexel, John R Turks and Ideal Electrical Supplies.

In a local statement, Hagemeyer Brands chief executive Michael Touma said the change would have “no impact on Hagemeyer Brands day to day operations, which will continue to run as a standalone business and continue to trade as Hagemeyer Brands Australia.”

“The management teams and day to day contacts in each of our trading divisions (namely Omega Appliances MEA, Consumer Electricals and Hagemeyer Lifestyle Brands) will remain the same,” he said.

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