Borek, a Dutch designer, producer and retailer of high-quality outdoor furniture has attracted the Belgian investor KeBeK in order to accelerate further international growth. Borek, a family business, operates in the high-end and mid-market segment under brand names Borek, MAX&LUUK and Yoi. KeBeK is an independent Belgian investment fund that mainly focuses on acquiring participations in companies with clear growth perspectives. Acquisition consultant Marktlink assisted in the transaction.
The family business Borek was established in 1977 and has been managed by the second generation, Frank Bogaers, since 2001. Borek has developed from importer and retailer of parasols into a company that has developed a distinctive and very high quality collection of outdoor furniture. The company has grown exponentially over the last few years and the collections are internationally coveted.
Borek sells its collections mainly through a selective dealer network. Borek’s main markets are the Benelux, Germany, England, France, and Spain. Now that KeBeK has joined them, Borek wants to move towards further growth in Europe. Frank Bogaers started the search with the help of acquisition consultant Marktlink, to find a partner that can help Borek to further expand the organisation.
Bogaers: “Borek has grown rapidly in recent years. What’s more, at the end of last year we introduced the Yoi brand in the mid-market segment, and this was very successful. With three brands, our own pilot stores, a sharp rise in demand from the project market, and further international ambitions, this was the right moment to bring a partner on board to realise the next growth phase together.”
Growing market for outdoor living
Ferry Nahon, who assisted in the transaction on behalf of Marktlink: “Borek is a successful brand that has experienced excellent growth in recent years. The growing demand for high-quality outdoor living has worked in Borek’s advantage, among other things. Outdoor is more and more becoming an extension of indoor, with more money being spent on this area. As such, we can see a lot of market interest in companies who are active in the outdoor living segment. Borek is a good example of a family business on the verge of a new phase as an organisation. In this case, KeBeK is very suitable and experienced to achieve this with Frank Bogaers and his team as a partner.”
KeBeK is an independent Belgian investment fund that invests in solid, medium-sized businesses. KeBeK participates in Dutch camping and recreation wholesaler Van Assendelft Hollander Bogaert, and in Yource, one of the main customer contact agencies in the Benelux. KeBeK actively supports the management teams of its participations in the implementation of the jointly decided company strategy. Floris Vansina, Managing Partner at KeBeK: “Frank and his team have set out a great trajectory over the last few years, with the expansion of the range, the successful introduction of the Yoi brand, and the international expansion. Together, we will continue to work on cementing Borek’s position in the European market.”
Frank Bogaers will remain active as a director-shareholder at Borek