2023-11-10 09:15:02
COMMUNICATION SGM
The BHV, “it is still the largest bedding retailer in Paris. Surprising, right? » Like a child unwrapping his birthday present, Frédéric Merlin, the new owner of the Parisian department store, marvels at the toy that his company, specializing in city center retail, built over ten years with his sister, is managed to acquire.
The BHV Marais, located opposite Paris City Hall (walls, business and brand), as well as the store located in the Westfield Parly 2 shopping center, in Yvelines, near Versailles, have changed hands, announced the two parties, Friday November 10, “after having obtained the approval of the competent regulatory authorities”notably that of the Competition Authority.
On one side, the Moulin family, owner of Galeries Lafayette and BHV, a Parisian department store that is part of the Nouvelles Galeries group, acquired in 1992. On the other, the young family business SGM, formerly Société des Grands Magasins, and its 32-year-old president.
Amount of the “confidential” transaction
« This is undoubtedly the opportunity of a lifetime”enthuses the one who has made a name for himself in the “commercial asset flipping”. Just as much as“a crucial step in the life of the company”, owner of eighteen retail sites in France: 275,000 square meters of assets, which attract 46 million visitors per year. The transaction amount will remain “confidential”even if estimates put the real estate complex at around 500 million euros.
In the accounts of the SGM group, the 300 million euros of annual turnover of the BHV will be added to the 700 million euros of business volume of the eleven shopping centers (Okabé, in Kremlin-Bicêtre, in Val -de-Marne, Porte Jeune, in Mulhouse, in Haut-Rhin, Oceanis, in Saint-Nazaire, in Loire-Atlantique, etc.) and the 150 million euros in revenue from the seven Galeries Lafayette stores in the provinces, bought from same Moulin, May 3, 2022. “All our entities are profitable”specifies the person concerned.
However, nothing predestined Frédéric Merlin to such a journey. Born on July 31, 1991, in Vénissieux, in the suburbs of Lyon, to a stay-at-home mother and a father who ran a small business in industrial piping, he began studying law, after obtaining his baccalaureate at 17 years. He acquired a taste for real estate during an internship carried out alongside his studies. “A small student loan of 15,000 euros”after obtaining his higher technician certificate in real estate professions, allowed him to set up his first company at the age of 20, Iméa Conseil, with his sister Maryline, also a law student.
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