Mestdagh family: From retail to real estate with assets of over 769 million euros

Mestdagh family

Since its origins in 1900, the Mestdagh company has become a major player in the the sector of food distribution in Belgium. Historically known for the Champion the company marked a turning point in 2010 with the acquisition of 16 Belgian stores previously owned by Carrefour. This transaction led to the transformation of its Champion establishments into Carrefour Market, expanding its presence, particularly in the Brussels region, where it previously had only one store under the Champion banner. The Mestdagh family has a personal fortune estimated at over €257,279,280.

The fourth generation of the Mestdagh family, represented by Eric and John, as well as their cousin Carl, has taken over the reins of the company, supporting an ambitious vision for expansion and innovation. In 2016, the group managed a network of 52 supermarkets and 30 affiliates. The critical partnership with the French Carrefour Group and Promodès in 1995 was a milestone in Mestdagh's history, well before the integration of Carrefour Market stores.

A variety of skills are needed to run such a business, and brothers Eric and John Mestdagh are well prepared for the task. Eric focuses on sales, finance, human resources and logistics, while John concentrates on purchasing, marketing and technical support.

Mestdagh is not necessarily aiming to become the leader in Wallonia, despite its significant growth. Their presence in Canada with the Gexel International call center testifies to their international reach. The company has also explored other avenues, notably with the construction of the Dockx Bruxsel shopping center in Brussels by Mestdagh subsidiary Equilis, which opened in 2016.

Despite a slower-than-expected start for Dockx Bruxsel, the interest of investors, including the Canadian fund AIMCo, did not waver, enabling them to realize a significant capital gain on the sale of this project. The Mestdagh family plans to use this capital to take Equilis to the next level on the European scene.

In a strategic reorientation for 2022, the Mestdagh family has decided to focus on to real estate by selling its loss-making food distribution network to Intermarchéa French group, a decision that finalized their move into retailing. to the real estate sector at a substantial profit.

• Evolution of Mestdagh:

  • Founded in 1900.
  • A turnaround in 2010 with the acquisition of Carrefour stores.
  • 52 supermarkets and 30 affiliates in 2016.
  • Refocus on real estate in 2022.

• Current directors:

  • Eric Mestdagh: sales, finance, HR, logistics.
  • John Mestdagh: purchasing, marketing, technical support.
  • Carl Mestdagh: Chairman of the board and property management.

• Highlights :

  • Transformation of Champion stores into Carrefour Market stores.
  • Operation of Gexel International call center in Canada.
  • Construction and sale of the Dockx Bruxsel shopping center.
  • Sale of the food chain to Intermarché in 2022.

This transition to real estate seems to open a new chapter for the Mestdagh family, demonstrating their ability to evolve and adapt to market changes and new business opportunities. This move into real estate marks a new chapter for the Mestdagh family, demonstrating their ability to evolve and adapt to market changes and new opportunities. Having built an empire in retail, the family is now joining forces with one of France's largest families, the Mulliez family, to create a real estate empire. Together, their joint real estate assets are now estimated at over 769 million euros.