Romanian Competition Council Approves Altex’s Acquisition of Brico Depot

Romanian Competition Council Approves Altex’s Acquisition of Brico Depot

Romania: Romania’s Competition Council has approved the acquisition of DIY retail chain Brico Depot Romania by electronics retailer Altex in a deal valued at EUR 70 million (USD 74.6 million). Brico Depot Romania operates a network of 32 stores and employs approximately 2,000 people. The retailer offers a range of products across categories including sanitary and storage, construction, electrical, plumbing, heating and cooling, kitchen, tools, home improvement, ceramic tiles and flooring, and decorations. Following its assessment, the Competition Council concluded that the acquisition would not significantly affect market competition in Romania or any substantial part of it and raised no concerns regarding its compliance with competitive market standards. 

Brico Depot Romania, previously owned by Kingfisher Group Ltd, will continue its operations during the transition period. The completion of the transaction is subject to further regulatory approvals and is expected in the first half of 2025. Kingfisher Group had previously expanded its footprint in the Romanian market in 2017 through the integration of the Praktiker brand. 

Source: Romania Insider