Altex acquires Brico Dépôt Romania from Kingfisher at EUR 70 mln enterprise value
<p>Kingfisher plc, the international home improvement company, <a href="https://www.kingfisher.com/media/news/2024/kingfisher-announces-sale-of-brico-depot-romania-to-altex-romania" rel="noopener" target="_blank">announced</a> the sale of its Brico Dépôt Romania business to local electro-IT market leader Altex for an enterprise value of EUR 70 million. The deal includes Brico Dépôt’s network of 31 stores in 24 cities, distribution operations, and head office in Bucharest.</p>

<p>The sale is expected to be completed during the first half of the financial year 2025/26, subject to regulatory approval.</p>

<p>“Altex Romania, the leader in the electro-IT market, is excited to announce the acquisition of the Brico&nbsp;Dépôt&nbsp;store network. This marks a significant milestone for all parties involved, and this first step opens up new horizons for growth and opportunities in the DIY market in Romania,” said Dan Ostahie, Altex Romania CEO.</p>

<p>Thierry Garnier, Kingfisher CEO, commented: “We are pleased to have found an experienced and successful local buyer for Brico Dépôt Romania. This decision enables us to have greater strategic focus on markets and growth initiatives where we are most strongly positioned to deliver attractive returns and create shareholder value.”&nbsp;</p>

<p>Brico Dépôt Romania will continue to operate as normal during this transition, the company said. The transaction has no impact on Kingfisher’s Brico Dépôt banners in France, Spain, and Portugal.</p>

<p>Kingfisher first entered the Romanian market in 2013, when it acquired Bricostore Romania from French retail business Group Bresson. It expanded its store network in the country through the acquisition of Praktiker Romania in 2017.&nbsp;</p>

<p>Altex is the leading retail company in Romania, with over 130 stores nationwide. Over more than three decades since its establishment, it has grown from a local television import business into the market leader for electronics, home appliances, IT&amp;C, and multimedia products in Romania.&nbsp;</p>

<p>Brico Dépôt Romania is a major player in the DIY and home improvement market, with a national network of 31 stores in 24 cities and a dedicated team of over 2,000 employees.</p>

<p><i>irina.marica@romania-insider.com</i></p>

<p><i>(Photo source: the company)</i></p>