Kingfisher offloads Romanian business
Kingfisher has announced the sale of its Brico Dépôt Romania business to Altex Romania for an enterprise value of €70 million.
The sale includes the company’s 31 stores in 24 cities, distribution operations, and head office in Bucharest.
Thierry Garnier, Kingfisher chief executive, said: “We are pleased to have found an experienced and successful local buyer for Brico Dépôt Romania.
“This decision enables us to have greater strategic focus on markets and growth initiatives where we are most strongly positioned to deliver attractive returns and create shareholder value.”
Never Miss a Retail Update!In the last financial year, Brico Dépôt Romania delivered sales of £269 million which accounted for around 2.1% of Kingfisher’s group sales. However, the company posted a loss of £18 million in the period.
B&Q owner Kingfisher entered Romania in 2013 through the purchase of Bricostore Romania from French retail business Group Bresson. This was followed by the acquisition of Praktiker Romania in 2017 which enabled Kingfisher to expand its store network in the country.
The sale is expected to complete during the first half of Kingfisher’s 2025/26 financial year.
Dan Ostahie, Altex Romania chief executive, said: “This marks a significant milestone for all parties involved, and this first step opens up new horizons for growth and opportunities in the DIY market in Romania.”
