April 2007

DA (www.da.nl), located in Leusden the Netherlands, was founded in 1942 and has grown over the years to a retail chain of more than 400 drugstores in The Netherlands. DA Retailgroep B.V. is the service- and retail organisation behind the DA brand. DA Retailgroep B.V. focuses on category management, purchasing, marketing and (logistical) support for all DA stores. For 11 consecutive years, DA has been awarded “Best Drugstore” in the Netherlands by consumers (GfK/Elsevier Retail). Customer focus, tailored advice, personal service and a complete product range set DA apart from the competition. Each month over four million customers visit DA.

The acquisition was done together with Wagram Equity Partners.

An improvement plan has been implemented:

• Appoint new CEO and management team
• Re-establish the relationships with the DA shop owners
• Improve commercial activities (more traffic, better prices)
• Improve logistical performance
• Integrate two DCs into one location
• Reduce head-count with 40% to ~300 FTEs
• Upgrade financial management

In October 2008 DA acquired a 50% stake in Mooi, a perfumery chain. Mooi is, like DA, a retail organization for local shop owners.

Furthermore, in August 2009, DA acquired the drugstore activities of Brocacef. These include the “Uw Eigen Drogist” (UED) drugstore chain, existing of 100 locally owned stores, and logistical functions for 300 independent drugstores. As a result of the acquisition, the number of drugstores supplied by DA increased from 400 to 800.

At the time of this acquisition, DA also announced that, from the first quarter of 2010, it will perform all its activities, including head office and the newly acquired UED organisation, from its distribution center in Zwolle.

Aletra Capital Partners BV is a hands-on investment company. Its founders and owners are Pieter Maarten Feenstra and Geert Postma who together have extensive experience in investment banking (Goldman Sachs, AIB), consulting (Bain & Company, McKinsey & Company) and management (KNP BT).