Kingfisher unveils acquisition of Bricostore Romania retail ops.
18 April 2013 a[euro]" UK home improvement retail group Kingfisher plc (LON:KGF) announced Thursday the takeover of Bricostore Romania's 15 outlets for an undisclosed amount.
The transaction, which is part of the UK firm's expansion drive, is seen to be wrapped up in the coming two months and should not affect earnings in the first year, Kingfisher said.
The 15 locations, acquired from French retail firm Group Bresson, boost the UK retailer's network to some 1,050 stores, adding 2% selling space.
Kingfisher said it would convert the acquired outlets into the Brico Depot format, under which it already has operations in France and Spain.
Bricostore Romania, which generated EUR131m (USD171m) sales in 2012, boasts a robust market position and its stores are in good locations, in a market with a solid growth potential, the buyer said. Over the long-term, Kingfisher expects to enlarge the Brico DepotA network in Romania to some 50 stores.Country: RomaniaSector: Wholesale/RetailTarget: Bricostore Romania Buyer: Kingfisher plc Vendor: Group BressonType: Corporate acquisitionStatus: Agreed
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|Publication:||M & A Navigator|
|Date:||Apr 18, 2013|
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