THR has been acquired by Royal Reesink N.V.

THR has sold its four professional paint centers to Ter Hoeven Groep. In addition, Royal Reesink N.V. has acquired THR’s remaining shares from Ter Hoeven Groep, thereby becoming the 100% shareholder.

THR is a wholesaler of DIY products and was established in 2011 as a joint venture between Royal Reesink, Ter Hoeven Groep and AMG. The company supplies a broad range of third-party products, own brands and concepts to DIY retailers in the Netherlands such as MultiMate, Formido and Karwei. THR has four professional paint centers located in Apeldoorn, Deventer, Ede and Harderwijk which will continue operations under the Ter Hoeven Groep's name. This divestment will enable THR to fully focus on its DIY activities and on building a solid and sustainable business for the future.

Royal Reesink operates through two segments, Reesink Equipment and Reesink Industries. The Reesink Equipment segment distributes leading brands in agriculture, horticulture and landscape maintenance. The products are supplied, primarily through dealers, to farmers, agricultural contractors, landscape contractors, golf courses, municipal authorities, governments, water boards and forestry services. The Reesink Industries segment distributes steel and processed steel, personal protection items, and hydraulic components and systems. This segment supplies products primarily to steel manufacturers, building sites, installation production companies, technical wholesalers, the offshore and shipping industry, machinery manufacturers, and the agricultural industry.

Oaklins' team in the Netherlands advised the seller in this transaction. The team's specialist said: “The Dutch DIY sector has been under pressure in the past few years and still faces challenges going forward. THR has made a good strategic choice by sharpening its focus and restructuring its ownership structure.”