Europe's leading home improvement retailer, Kingfisher, has entered into exclusive negotiations with Mr Bricolage, in an attempt to grow its French retail operations.
Under the terms of the proposed transaction, Kingfisher would acquire 41.9% from shares currently held by franchisees and 26.2% from the Tabur Family, in a deal valued at around €275m.

If the talks are successful an outcome is not likely to be reached until the end of Kingfisher's next financial year.

Kingfisher boss, Sir Ian Cheshire, commented: "This would add a third, complementary strong business alongside Kingfisher's existing two successful brands in France. The retention of Mr Bricolage's excellent management team within the Kingfisher cadre, the addition to the group of an established and successful international franchising operation and exposure to new territories makes this an attractive growth operation."

Kingfisher, parent company of B&Q and Screwfix, already has an established grounding in France, owning 105 Castorama stores and 109 Brico Depot stores.

Mr Bricolage encompasses 81 directly owned stores and 435 franchised stores in France. It also encompasses 69 franchised stores in 10 other countries around the world.

Last month, Kingfisher sold its share in German DIY retailer Hornbach as the company said owning a stake in the business would conflict against its plans to open four Screwfix stores in the country.