Kingfisher sells French builders merchant
Dubois Materiaux goes to Point P for €100 million
July 11 2003
Kingfisher is continuing to its non-core businesses with the sale French builders’ merchant, Dubois Materiaux for €100 million.
The buyer, Point P, is part of Saint-Gobain Building Distribution. Kingfisher, which earlier this week demerged its Kesa electricals business to become a pureplay DIY retail group, operates the Castorama and Brico Depot businesses in France.
The deal is subject to clearance by the French competition authority, expected this autumn 2003, with the proceeds used to reduce Kingfisher’s debt.
Kingfisher chief executive Officer Gerry Murphy said: “The disposal of this specialist builders’ merchant business is consistent with Kingfisher’s new focus on large-scale, mass merchandise home improvement retailing through our B&Q, Castorama and Brico Depot brands.”
