BAS Group has sold its retail formulas and insurance activities to Relevant Holdings

Relevant Holdings has acquired the retail formulas and insurance activities of BAS Group. Financial details have not been disclosed.The transactions are subject to approval by Dutch regulatory authorities ACM and AFM.

The BAS Group is the largest OMNI channel fulfillment company in the Netherlands and is a platform between vendor and consumer. The company's primary product focus is centered around connected devices. In addition, connected+ devices, non-connected products and accessories are also offered. Insurances and extended warranty plans are often sold in combination with these products. The group offers its products through three retail formulas, each focusing on a different customer segment, iCentre, MyCom and Dixons. Next to its retail formulas, the BAS Group has an integrated distribution organization offering in-house wholesale, B2B and B2E distribution activities with a focus on e-fulfilment. Customers include KLM, Ministry of Finance and LOI.

Relevant Holdings is an investment group with interest in companies that own and operate retail stores. Currently, the firm also owns Phone House, Optie1 and Typhone.nl, and also exploits 50 shop-in-shop telecom concepts as well as 6 Samsung experience stores.

iCentre, Dixons and Mycom were owned by BAS Group, which has been declared partially bankrupt. Under the terms, Relevant Holdings will acquire all 24 stores of iCentre, over 30 Dixons stores and 22 MyCom stores. Relevant Holdings also intends to acquire Harmony, the Netherlands-based insurance company, which is linked to iCentre. Following the transaction, Relevant Holdings will retain more than 1,000 employees of the BAS Group.

Oaklins' team in the Netherlands advised the liquidator on the sale of the assets.