Surprising development in the German and Dutch electrical wholesale trade
The Dutch wholesale groups itsme and Oosterberg have merged and founded a joint venture under the name of itsoos, which focuses on investments abroad. On February 3rd, the first step followed with the takeover of the German electrical wholesaler Hardy Schmitz. Schmitz belongs to the DEHA marketing group.
itsme achieved annual sales of EUR 235 million in 2020 and has 475 employees in 17 branches in Belgium, Germany, the Netherlands, Romania and Spain. Itsme is part of the international marketing group IDEE.
Oosterberg is currently only active in the Netherlands, has 20 branches and had a turnover of EUR 215 million in 2020.
Hardy Schmitz belongs to the DEHA marketing group, has six branches and expects annual sales of around EUR 150 million. The DEHA Group is a member of IDEE, to which itsme also belongs.
Well-known electrical wholesalers such as Bürkle, Löffelhardt, Obeta and Zajadacz are also members of DEHA.
In the context of the takeover, the interesting question is why none of the aforementioned companies wanted or could take over Hardy Schmitz.