DIYWEEK.net

 

Kingfisher acquires Praktiker Romania

Published: 4 December 2017 - Kiran Grewal
 

Kingfisher plc has announced that it has completed the acquisition of Praktiker Romania S.A. following receipt of competition approval. Kingfisher entered into a binding acquisition agreement in August 2017 to strengthen its position in the country.

 Kingfisher will now own 41 stores in Romania.

In 2013, the British group bought the Bricostore DIY network with EUR 75 million from the French group Bresson. The Bricostore units were rebranded Brico Depot. At the time of acquirement,  Ian Cheshire, Kingfisher’s Group Chief Executive, had said: "The Brico Dépôt store model has proved very successful in France and Spain, and we have said before that it has the potential for further international expansion. Expanding Kingfisher’s businesses in existing countries and in new territories is a key part of our ‘Creating the Leader’ strategy and I am therefore delighted to announce this exciting development.

"The home improvement market in Romania has solid growth potential and the stores we are acquiring are in good locations. We are looking forward to offering Brico Dépôt’s low-cost, easy to shop format to trade professionals and serious DIYers in Romania and developing a successful business there."

At the end of August this year, Kingfisher announced that it had signed an agreement to take over Praktiker Romania from Turkish investor Omar Susli, who had become the only shareholder in the company in 2014. The British group now operates 15 Brico Depot stores and 26 Praktiker stores in Romania.

Praktiker Romania recorded a turnover of EUR 139.5 million last year, up 3.3% over the previous year. Its losses amounted to about EUR 2.5 million in 2016.

Kingfisher operates 15 stores under the Brico Depot brand in Romania and has acquired 26 Praktiker Romania stores.

Source: Romania-Insider.com

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?

Smart security


Do you think enough is being done to secure connected/smart home products from hackers and cybercrime?


Latest reader comments

re: B&Q sales dip 2.5%, as showroom sales decline

B&Q bob
Screwfix sales are up because they position new stores close to B&Q stores but then price like for like products cheaper than within BQ ...

re: B&Q kicks off kitchen & bathroom recruitment drive

B&Q bob
Wickes are not alone, Wrens kitchens has seen large numbers of unappreciated BQ kitchen sales staff join them because of BQs attitude ...

re: Toolstation.com excels in Which? website survey

Roger Bishop
This was my first visit to toolstation in farnham but it will definatly not be my last the service was exceptional staff were welcoming i ...

re: Graham Bell to head up B&Q as part of Kingfisher reshuffle

B&Q bob
Ms Laury has overseen perhaps the worst period of BQ history under her leadership, staff have had their wages cut while witnessing their ...

re: Screwfix opens 600th store as business continues to build

B&Q bob
Why is kingfisher giving screwfix lower prices to sell at than their BQ stores? Staff in B&Q suffer constant abuse from trade customers ...

Most read stories

Blog and Comment

Dawn of a new age in customer service

Customer service used to be about answering telephones and responding to written requests, but our fast paced, social media driven society ... Read More >>

http://www.diyweek.net/kingfisher-acquires-praktiker-romania