Cardoen is a Belgian network of car supermarkets, and launched the first automobile superstore in Belgium. Cardoen primarily sells new cars at the lowest price by sourcing them from diverse European countries. Headquartered in Wilrijk, Belgium, Cardoen was founded in 1949 by Albert Cardoen, father of current CEO Karel Cardoen, and now operates 11 car superstores throughout Belgium. Cardoen recorded a healthy growth in recent years thanks to the opening of new outlets. In 2014, Cardoen sold approximately 9,000 cars (of which 2,000 were trade-ins) – accounting for a turnover of EUR 95 million – making Cardoen the largest multi-brand car seller in Belgium. Additional services such as maintenance contracts, extended warranties and financing demonstrate how Cardoen understands what motivates customers to remain loyal.KeBeK Private Equity announces an agreement with Karel Cardoen to acquire a controlling stake in car superstore chain Cardoen. The transaction marks the first investment made by the second KeBeK fund, which was established last June. Karel Cardoen remains an important shareholder of Cardoen and, together with KeBeK, will now lead further expansion of the company.
SDM-Valorum
Advised in the sale of
Cardoen
to