Fe Corporation sells IKEA franchises in the Baltic states

The shareholders of Fe Corporation B.V. are selling the IKEA franchise companies in Estonia, Latvia and Lithuania to Inter IKEA Group. The acquisition includes three full sized IKEA stores, five additional smaller customer meeting points, e-commerce and the Digital Retail Development company.

Inter IKEA Group owns and manages the purchasing, logistics, and production operations in the Baltic states and employs approximately 700 IKEA staff. Additionally, Inter IKEA Group owns and operates the IKEA store in Delft, the Netherlands. All other IKEA retail operations are managed by 12 different IKEA franchise groups. The sellers will continue to own and operate IKEA Iceland.

The transaction is expected to be completed in the fourth quarter of 2024, subject to customary conditions and regulatory approvals.

Houthoff acted as adviser to the shareholders of Fe Corporation B.V. The Houthoff team, led by Philip van der Eijk and Walter van Overbeek, consisted of Vivian van de Haterd, Matthijs Malessy, Yentl Coenradie, Diede van der Voort, Jeroen van Mourik, Jori de Goffau, Eva van Dusschoten, Gerrit Oosterhuis, Felix Geerebaert, Zinke Lansink, Esther Bastein and Jasmijn Harms.