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Wallis purchase of Praktiker receives greenlight

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The Hungarian Competition Authority approved the purchase of D.I.Y. chain Praktiker’s local stores by Hungarian Wallis group, according to a press statement issued today.

Wallis purchased Praktiker’s commercial business, real estate and brand at the beginning of the year.

The businessʼs managing director has a minority stake in the venture and will continue to participate in its management, Hungarian news agency MTI reported.

Praktiker currently operates 19 stores in the country, and generated a revenue of HUF 32.5 billion in 2015, MTI cited public records.

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