Kingfisher Sells Brico Dépôt Romania to Altex Romania for USD 73.5 Million
Romania: Kingfisher plc has announced the sale of its Brico Dépôt Romania business to Altex Romania for an enterprise value of EUR 70 million (USD 73.5 million). The transaction includes all 31 Brico Dépôt stores across 24 cities, along with its distribution operations and head office in Bucharest. The sale is expected to be completed in the first half of FY 2025/26, pending regulatory approval. In FY 2023/24, Brico Dépôt Romania reported sales of GBP 269 million (USD 339 million), accounting for 2.1% of Kingfisher’s total sales, while recording a retail loss of GBP 18 million (USD 22.7 million) and a free cash outflow of GBP 17 million (USD 21.45 million).
Kingfisher entered the Romanian market in 2013 by acquiring Bricostore Romania from Group Bresson and later expanded through the acquisition of Praktiker Romania in 2017. This sale aligns with Kingfisher’s strategic focus, and it will have no impact on its Brico Dépôt operations in France, Spain, and Portugal.
Source: Kingfisher